Ixonia Bank 401(k) Review & Grade
Ixonia Bank 401(k) Savings Plan
Ixonia, WIFinance & Insurance512 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,857Employer $ per active participant
$5,172Employee $ saved per active participant
0.61%Direct admin cost, % of plan assets
$14.8MNet plan assets, end of year
$25,155Average balance per account
Score breakdown
- Employer generosity9.7 / 5019th percentile for employer $ per participant
- Low cost4.2 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving3.8 / 1525th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 19th |
| Lower admin cost | 17th |
| Employee saving | 25th |
| 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
- Ixonia Bank put in about $1,857 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.
- Direct plan expenses (0.61% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $950,939 |
| Participant (employee) contributions | $2,648,021 |
| Other contributions (incl. rollovers in) | $955,681 |
| Administrative expenses paid from the plan | $79,812 |
| Investment advisory & management fees | $51,022 |
| Benefits paid out | $2,621,499 |
| Net assets, start / end of year | $11.4M / $14.8M |
| Active participants, start / end of year | 437 / 587 |
| Participants with account balances | 587 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlalrsonallen LLP |
Largest service providers (Schedule C)
| Private Advisor Group LLC | $51,022 reported compensation |
| Empower Annuity Insurance Company O | $28,790 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250826094305NAL0004352899001, received 2025-08-26, EIN 39-0369710, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.