Central Bankshares, Inc. 401(k) Review & Grade
Central Retirement Savings Plans and Trust Agreement
Lexington, KYFinance & Insurance515 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,170Employer $ per active participant
$6,763Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$110.0MNet plan assets, end of year
$192,266Average balance per account
Score breakdown
- Employer generosity29.0 / 5058th percentile for employer $ per participant
- Low cost24.0 / 2596th percentile for low admin cost vs. same-size plans
- Employee saving7.0 / 1546th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score63 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 58th |
| Lower admin cost | 96th |
| Employee saving | 46th |
| 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
- Central Bankshares put in about $4,170 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 | $2,147,680 |
| Participant (employee) contributions | $3,482,846 |
| Other contributions (incl. rollovers in) | $509,138 |
| Administrative expenses paid from the plan | $18,700 |
| Contract administrator fees | $4,750 |
| Investment advisory & management fees | $12,750 |
| Other admin expenses | $1,200 |
| Benefits paid out | $6,477,808 |
| Net assets, start / end of year | $96.9M / $110.0M |
| Active participants, start / end of year | 511 / 519 |
| Participants with account balances | 572 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | RFH, PLLC |
Largest service providers (Schedule C)
| Mcgregor & Assoc Inc | $49,661 reported compensation |
| RFH | $12,750 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250728122805NAL0001532977001, received 2025-07-28, EIN 61-1247980, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.