Plan Snapshot
- Plan Sponsor: Georgia Bankers Association
- Sponsor EIN: 580254910
- Sponsor Address: 1475 PEACHTREE ST, NE, ATLANTA, GA, 30309
- Plan Type: 401(k)
- Plan Number: 506
- Total Participants: 11,398
- Total Assets: $84.8M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 11,398 | $84.8M | $112.3M | $0 |
| 2023 | 7,291 | $78.1M | $107.5M | $0 |
| 2022 | 7,355 | $66.9M | $100.9M | $0 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| PARAGON BENEFITS, INC. | Recordkeeper | $3,105,084 | — | $3,105,084 |
| BLUE CROSS BLUE SHIELD HEALTHCARE | Investment Advisor | $2,635,465 | — | $2,635,465 |
| GEORGIA BANKERS ASSOCIATION, INC. | Other Service Provider | $1,015,923 | — | $1,015,923 |
| POINTENORTH INSURANCE GROUP, LLC | Insurance Carrier | $342,792 | — | $342,792 |
| SENTRYHEALTH (F/K/A WELLVIEW) | Other Service Provider | $321,273 | — | $321,273 |
| CARE2025, LLC | Other Service Provider | $310,375 | — | $310,375 |
| LIFE2, INC. | Other Service Provider | $300,000 | — | $300,000 |
| MOORE COLSON & COMPANY PC | Other Service Provider | $261,288 | — | $261,288 |
| TESSA NOLAN | Other Service Provider | $228,622 | — | $228,622 |
| BNY MELLON WEALTH MANAGEMENT | Investment Advisor | — | $207,968 | $207,968 |
| KERI BROOKS | Other Service Provider | $198,847 | — | $198,847 |
| MARY K WREN | Other Service Provider | $141,071 | — | $141,071 |
| MICHEAL COFIELD | Other Service Provider | $128,219 | — | $128,219 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BLUE CROSS BLUE SHIELD HEALTHCARE — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $9,196,927
- Estimated Expense Ratio: 10.846% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $5,483,702 | $207,956 | $3,105,084 | — | — |
| 2023 | $4,979,837 | $145,165 | $3,105,866 | — | — |
| 2022 | $5,074,945 | $221,809 | $2,341,174 | — | $920,322 |