Bancplus Corporation 401(k) Review & Grade
Bancplus Corporation Employee Stock Ownership Plan W/401(k) Provisions
Ridgeland, MSFinance & Insurance1,087 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,046Employer $ per active participant
$5,388Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$164.7MNet plan assets, end of year
$114,904Average balance per account
Score breakdown
- Employer generosity28.1 / 5056th percentile for employer $ per participant
- Low cost20.0 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving4.2 / 1528th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 56th |
| Lower admin cost | 80th |
| Employee saving | 28th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Bancplus put in about $4,046 per active participant, more than the typical peer ($3,606). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $4,397,790 |
| Participant (employee) contributions | $5,856,291 |
| Other contributions (incl. rollovers in) | $1,198,955 |
| Administrative expenses paid from the plan | $119,147 |
| Benefits paid out | $12,286,575 |
| Net assets, start / end of year | $143.8M / $164.7M |
| Active participants, start / end of year | 1,110 / 1,064 |
| Participants with account balances | 1,433 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
| Employer stock held by plan | $95,252,916 |
Largest service providers (Schedule C)
| Epic Retirement Plan Services | $119,147 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250625120017NAL0004704563001, received 2025-06-25, EIN 64-0655312, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.