Databank Holdings, LTD. 401(k) Review & Grade
Databank Holdings 401(k) Plan
Dallas, TXProfessional, Scientific & Technical Services832 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,200Employer $ per active participant
$6,754Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$37.3MNet plan assets, end of year
$39,249Average balance per account
Score breakdown
- Employer generosity18.1 / 5036th percentile for employer $ per participant
- Low cost22.8 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving5.1 / 1534th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score46 / 100 · Grade C
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 36th |
| Lower admin cost | 91th |
| Employee saving | 34th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $69,219 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Databank Holdings put in about $2,200 per active participant, below the typical peer ($3,082). 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.
- 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 | $1,830,745 |
| Participant (employee) contributions | $5,619,209 |
| Other contributions (incl. rollovers in) | $462,341 |
| Administrative expenses paid from the plan | $12,250 |
| Other admin expenses | $12,250 |
| Benefits paid out | $2,916,959 |
| Net assets, start / end of year | $28.6M / $37.3M |
| Active participants, start / end of year | 806 / 858 |
| Participants with account balances | 950 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| T. Rowe Price RPS, Inc. | $12,250 reported compensation |
| American Funds | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250904110352NAL0027307920001, received 2025-09-04, EIN 83-0409949, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.