PARK BANK 401(K) PLAN

At the end of 2022, the total retirement plan assets of PARK BANK 401(K) PLAN is $20,345,116.This plan was established in 1988.

At the end of 2022, the total number of retirement plan participants in PARK BANK 401(K) PLAN is 227

In 2022, the average participant retirement account value for PARK BANK 401(K) PLAN is $89,626

In 2022, the estimated average employee contribution amount per participant for PARK BANK 401(K) PLAN is $5,093

In 2022, the estimated average employer match for an employee in PARK BANK 401(K) PLAN is approximately $1,940

In 2022, PARK BANK 401(K) PLAN allocates $440,397 to match its employees’ contributions, providing an employer match rate of 40.12% of their contributions

In 2022, the total retirement plan asset growth rate of PARK BANK 401(K) PLAN is -13.60%

In 2022, the estimated aggregate retirement account investment gain/loss for PARK BANK 401(K) PLAN is -17.00%. This measures the effectiveness of the plan participants’ investments in the year.

In 2022, the investment and administrative expense ratio of PARK BANK 401(K) PLAN is 0.36%.

Enrollment Features

PARK BANK 401(K) PLAN has the following features:
    Automatic Enrollment: It provides automatic enrollment with elective contributions deducted from payroll.
    Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.