Retirement plan

TAPLEY INSURANCE AGENCY, INC. 401(K) PLAN

Name: TAPLEY INSURANCE AGENCY, INC. - TAPLEY INSURANCE AGENCY, INC. 401(K) PLAN (2023) 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 2023

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.6M

+5.5% from 2022

Total participants

-16.7% from 2022

Average account balance

$178,231

-6.2% from 2022

Annual return

13.56%

+30.92 pp from 2022

Benchmarks

See 36,154 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,154 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.77M

Not enough data

1 years with asset history on file

Average account balance

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

$196K

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.

90.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$108K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+11.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$15612

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

1 tripped

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

$213K

$21330 / participant

Other / not subdivided$213K100.0%

% of EOY assets

13.298%

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

$178,231

$185,905-4.1%

$170,057+4.8%

$139,487+27.8%

Participation rate

90.0%

87.8%+2.2pp

87.0%+3.0pp

80.3%+9.7pp

Annual return

13.56%

60.56%-47.0pp

53.42%-39.9pp

373.84%-360.3pp

Employer contribution / active EE

$1,593

$7,597-79.0%

$6,790-76.5%

$4,755-66.5%

Participant deferral / active EE

$6,352

$11,627-45.4%

$10,411-39.0%

$6,713-5.4%

Admin fee / account holder

$23,700

$15,397+53.9%

$12,826+84.8%

$11,407+107.8%

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