Olney Bancshares of Texas, Inc. 401(k) Review & Grade
Olney Bancshares of Texas, Inc. Employees 401(k) Retirement Plan and Trust
Olney, TXFinance & Insurance527 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,873Employer $ per active participant
$4,067Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$49.0MNet plan assets, end of year
$91,723Average balance per account
Score breakdown
- Employer generosity32.5 / 5065th percentile for employer $ per participant
- Low cost9.5 / 2538th percentile for low admin cost vs. same-size plans
- Employee saving2.1 / 1514th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 65th |
| Lower admin cost | 38th |
| Employee saving | 14th |
| Peers that auto-enroll | 62% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $66,745 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Olney Bancshares of Texas put in about $4,873 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 | $2,568,306 |
| Participant (employee) contributions | $2,143,553 |
| Other contributions (incl. rollovers in) | $229,284 |
| Administrative expenses paid from the plan | $150,038 |
| Investment advisory & management fees | $71,318 |
| Benefits paid out | $5,082,338 |
| Net assets, start / end of year | $44.2M / $49.0M |
| Active participants, start / end of year | 530 / 524 |
| Participants with account balances | 534 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Hogan Taylor |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $63,848 reported compensation |
| Exencial Wealth Advisors LLC | $45,000 reported compensation |
| Empower Advisory Group, LLC | $26,318 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250723130913NAL0003491697001, received 2025-07-23, EIN 75-2534536, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.