Retirement plan

COSTELLO INSURANCE AGENCY, INC. PROFIT SHARING PLAN

Name: COSTELLO INSURANCE AGENCY, INC. - COSTELLO INSURANCE AGENCY, INC. PROFIT SHARING PLAN (2021) Form 5500
Creator: COSTELLO INSURANCE AGENCY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COSTELLO INSURANCE AGENCY, INC. PROFIT SHARING PLAN, COSTELLO INSURANCE AGENCY, INC.

COSTELLO INSURANCE AGENCY, INC.EIN 04-2239191Plan #001PY 2021

2 SOUTH KIMBALL STREET - BRADFORD, MA 018357418978-374-6352costelloinsurance.comLinkedIn11-50 employeesinsurance

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$949K

-66.3% from 2020

Total participants

-20.0% from 2020

Average account balance

$135,593

-51.9% from 2020

Annual return

6.53%

+4.12 pp from 2020

Benchmarks

See 33,473 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort33,473 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$169K

Not enough data

1 years with asset history on file

Average account balance

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

$42K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$60K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+1.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$125921

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 codes2E2F2G3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$2.1M

$302410 / participant

Other / not subdivided$2M100.0%

% of EOY assets

223.028%

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

$135,593

$209,847-35.4%

$189,520-28.5%

$167,518-19.1%

Participation rate

85.7%

88.7%-3.0pp

87.8%-2.1pp

82.1%+3.6pp

Annual return

6.53%

748.45%-741.9pp

555.25%-548.7pp

478.71%-472.2pp

Employer contribution / active EE

$9,286

$6,913+34.3%

$6,161+50.7%

$4,838+91.9%

Participant deferral / active EE

$8,934-100.0%

$8,220-100.0%

$6,342-100.0%

Admin fee / account holder

$302,410

$14,295+2015.5%

$12,046+2410.5%

$12,312+2356.1%

COSTELLO INSURANCE AGENCY, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COSTELLO INSURANCE AGENCY, INC. PROFIT SHARING 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