Performance Bankers 401(k) match, vesting and fees
What Performance Bankers' 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 | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Eide Bailly, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
How the plan compares
Plan year 2024 medians for 108 defined-contribution plans in management of companies and enterprises with 500 to 999 participants.
| Performance Bankers: employer contribution per participant | $3,595 | |
| Peer median | $2,042 |
| Performance Bankers: average balance | $119,221 | |
| Peer median | $78,282 |
| Performance Bankers: admin expenses ÷ assets | 0.20% | |
| 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 $89.2M at the end of plan year 2023 to $101M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 864 | $101M | $3.1M | $3,595 | 0.20% | Not published | Form 5500 ↗ |
| 2023 | 881 | $89.2M | $3M | $3,416 | 0.20% | Not published | Form 5500 ↗ |
Common questions
Does Performance Bankers match 401(k) contributions?
The match terms for the Performance Bankers, Inc. Retirement Savings Plan have not been published from its filing yet. The plan year 2024 filing reports $3.1M in employer contributions, about $3,595 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Performance Bankers 401(k) match vested?
The vesting schedule for the Performance Bankers, Inc. Retirement Savings Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Performance Bankers 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Principal Life Insurance Company. The plan administrator is Performance Bankers, Inc..
I left Performance Bankers. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Performance Bankers, Inc., (605) 945-3950) or the recordkeeper, Principal Life Insurance Company. The Performance Bankers old 401(k) page lists the contacts from every plan filing. Find an old Performance Bankers 401(k)
Data from the public Form 5500 annual reports Performance Bankers 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 Performance Bankers. Not financial advice. Report a correction · Methodology