Bank Iowa 401(k) match, vesting and fees
What Bank Iowa's 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Security National Bank | Schedule C ↗ |
| Independent auditor | Rsm US LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2024 medians for 3,414 defined-contribution plans in finance and insurance with 100 to 499 participants.
| Bank Iowa: employer contribution per participant | $2,744 | |
| Peer median | $2,869 |
| Bank Iowa: average balance | $123,859 | |
| Peer median | $95,257 |
| Bank Iowa: admin expenses ÷ assets | 0.26% | |
| Peer median | 0.22% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $45.6M at the end of plan year 2023 to $49.5M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 403 | $49.5M | $1.1M | $2,744 | 0.26% | Not published | Form 5500 ↗ |
| 2023 | 390 | $45.6M | $1.1M | $2,740 | 0.26% | Not published | Form 5500 ↗ |
Common questions
Does Bank Iowa match 401(k) contributions?
The match terms for the Bank Iowa Retirement Savings Plan have not been published from its filing yet. The plan year 2024 filing reports $1.1M in employer contributions, about $2,744 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Bank Iowa 401(k) match vested?
The vesting schedule for the Bank Iowa Retirement Savings Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Bank Iowa 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Security National Bank. The plan administrator is Bank Iowa Corporation.
I left Bank Iowa. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Bank Iowa Corporation, (515) 226-2488) or the recordkeeper, Security National Bank. The Bank Iowa old 401(k) page lists the contacts from every plan filing. Find an old Bank Iowa 401(k)
Data from the public Form 5500 annual reports Bank Iowa filed with the U.S. Department of Labor (plan years 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Bank Iowa. Not financial advice. Report a correction · Methodology