Broadway Bancshares, Inc. 401(k) Review & Grade
Broadway Bancshares, Inc. Profit Sharing 401(k) Plan
San Antonio, TXFinance & Insurance672 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,440Employer $ per active participant
$7,732Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$120.9MNet plan assets, end of year
$142,254Average balance per account
Score breakdown
- Employer generosity14.4 / 5029th percentile for employer $ per participant
- Low cost15.5 / 2562th percentile for low admin cost vs. same-size plans
- Employee saving8.5 / 1557th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score48 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 29th |
| Lower admin cost | 62th |
| Employee saving | 57th |
| 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
- Broadway Bancshares put in about $2,440 per active participant, below the typical peer ($3,606). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,640,565 |
| Participant (employee) contributions | $5,199,849 |
| Other contributions (incl. rollovers in) | $449,664 |
| Administrative expenses paid from the plan | $183,701 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $113,392 |
| Benefits paid out | $11,684,257 |
| Net assets, start / end of year | $112.1M / $120.9M |
| Active participants, start / end of year | 683 / 662 |
| Participants with account balances | 850 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Adkf |
Largest service providers (Schedule C)
| Morgan Stanley 301-037977 | $113,392 reported compensation |
| Fidelity Investments Institutional | $50,309 reported compensation |
| Adkf, P.C. | $20,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010094542NAL0012252192001, received 2025-10-10, EIN 74-2209407, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.