Retirement plan

TAPLEY INSURANCE AGENCY, INC. 401(K) PLAN

Name: TAPLEY INSURANCE AGENCY, INC. - TAPLEY INSURANCE AGENCY, INC. 401(K) PLAN (2020) Form 5500
Creator: TAPLEY INSURANCE AGENCY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TAPLEY INSURANCE AGENCY, INC. 401(K) PLAN, TAPLEY INSURANCE AGENCY, INC.

TAPLEY INSURANCE AGENCY, INC.EIN 01-0503552Plan #001PY 2020

300 YORK STREET - YORK, ME 03909207-363-7894tapleyagency.comLinkedIn1-10 employeesinsurance

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$1.4M

+20.3% from 2019

Total participants

0.0% from 2019

Average account balance

$204,271

+20.3% from 2019

Annual return

13.34%

-8.60 pp from 2019

Benchmarks

See 32,161 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort32,161 peers

Snapshot2020

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$2.12M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$212K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

83.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$114K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+13.38%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$1438

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2J2F2G3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$9K

$820 / participant

Other / not subdivided$9K100.0%

% of EOY assets

0.631%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$204,271

$197,594+3.4%

$177,822+14.9%

$158,931+28.5%

Participation rate

63.6%

88.5%-24.9pp

87.7%-24.1pp

82.0%-18.3pp

Annual return

13.34%

58.76%-45.4pp

48.32%-35.0pp

302.86%-289.5pp

Employer contribution / active EE

$2,118

$6,697-68.4%

$5,918-64.2%

$4,761-55.5%

Participant deferral / active EE

$5,382

$8,405-36.0%

$7,714-30.2%

$5,982-10.0%

Admin fee / account holder

$1,289

$15,400-91.6%

$12,428-89.6%

$11,247-88.5%

TAPLEY INSURANCE AGENCY, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TAPLEY INSURANCE AGENCY, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion