DACOTAH BANKS, INC. 401(K) SAVINGS PLAN

Plan Contact

  • Address: 401 SOUTH MAIN STREET, SUITE 212,,ABERDEEN,SD
  • Contact person: CHAD BERGAN
  • Phone: (605) 225-4850

Plan General Information

DACOTAH BANKS, INC. 401(K) SAVINGS PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of DACOTAH BANKS, INC. 401(K) SAVINGS PLAN is $90,371,964.00.This plan was established in 2000.

DACOTAH BANKS, INC. 401(K) SAVINGS PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in DACOTAH BANKS, INC. 401(K) SAVINGS PLAN is 707

DACOTAH BANKS, INC. 401(K) SAVINGS PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for DACOTAH BANKS, INC. 401(K) SAVINGS PLAN is $127,824.00

DACOTAH BANKS, INC. 401(K) SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for DACOTAH BANKS, INC. 401(K) SAVINGS PLAN is $4,424.00.

DACOTAH BANKS, INC. 401(K) SAVINGS PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in DACOTAH BANKS, INC. 401(K) SAVINGS PLAN is approximately $5,074.00
Investing in this additonal $5,074.00 for 20 years would give you extra $324,753.00, assuming a 10% annual return.

DACOTAH BANKS, INC. 401(K) SAVINGS PLAN Total Employer Contribution and Match Rate

In 2023, DACOTAH BANKS, INC. 401(K) SAVINGS PLAN allocates $3,587,513.00 to match its employees' contributions, providing an employer match rate of 118.37% of their contributions

DACOTAH BANKS, INC. 401(K) SAVINGS PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of DACOTAH BANKS, INC. 401(K) SAVINGS PLAN is 21.09%.

DACOTAH BANKS, INC. 401(K) SAVINGS PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for DACOTAH BANKS, INC. 401(K) SAVINGS PLAN is 19.79%. This measures the effectiveness of the plan participants' investments in the year.

DACOTAH BANKS, INC. 401(K) SAVINGS PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of DACOTAH BANKS, INC. 401(K) SAVINGS PLAN is 0.23%.

Enrollment Features

DACOTAH BANKS, INC. 401(K) SAVINGS PLAN has the following features:
    Automatic Enrollment: It provides automatic enrollment with elective contributions deducted from payroll.
    Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.

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