Retirement plan

CONGDON & COLEMAN INSURANCE AGENCY, INC. 401K PLAN

Name: CONGDON & COLEMAN INSURANCE AGENCY, INC - CONGDON & COLEMAN INSURANCE AGENCY, INC. 401K PLAN (2023) Form 5500
Creator: CONGDON & COLEMAN INSURANCE AGENCY, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CONGDON & COLEMAN INSURANCE AGENCY, INC. 401K PLAN, CONGDON & COLEMAN INSURANCE AGENCY, INC

CONGDON & COLEMAN INSURANCE AGENCY, INCEIN 04-2393657Plan #002PY 2023

57 MAIN ST - NANTUCKET, MA 02554508-228-0344congdonandcolemaninsurance.comLinkedIn11-50 employeesinsurance

Other plans on this EIN

1 filing

#001Retirement-$3.0M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.8M

+22.7% from 2022

Total participants

0.0% from 2022

Average account balance

$235,660

+22.7% from 2022

Annual return

17.51%

+35.73 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

$6.80M

Not enough data

1 years with asset history on file

Average account balance

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

$378K

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.

128.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$280K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+60.25%

Not enough data

1 years with return on file

Admin fee / account holder

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

$34172

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 codes2G2E3D2J2F2T

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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
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

$13K

$806 / participant

Other / not subdivided$13K100.0%

% of EOY assets

0.342%

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

$235,660

$185,905+26.8%

$170,057+38.6%

$139,487+68.9%

Participation rate

93.8%

87.8%+6.0pp

87.0%+6.7pp

80.3%+13.4pp

Annual return

17.51%

60.56%-43.1pp

53.42%-35.9pp

373.84%-356.3pp

Employer contribution / active EE

$7,597-100.0%

$6,790-100.0%

$4,755-100.0%

Participant deferral / active EE

$10,045

$11,627-13.6%

$10,411-3.5%

$6,713+49.6%

Admin fee / account holder

$806

$15,397-94.8%

$12,826-93.7%

$11,407-92.9%

CONGDON & COLEMAN INSURANCE AGENCY, INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CONGDON & COLEMAN INSURANCE AGENCY, INC. 401K 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