Retirement plan

DECOTIS INSURANCE ASSOCIATES INC 401K PLAN

Name: DECOTIS INSURANCE ASSOCIATES, INC. - DECOTIS INSURANCE ASSOCIATES INC 401K PLAN (2024) Form 5500
Creator: DECOTIS INSURANCE ASSOCIATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DECOTIS INSURANCE ASSOCIATES INC 401K PLAN, DECOTIS INSURANCE ASSOCIATES, INC.

DECOTIS INSURANCE ASSOCIATES, INC.EIN 05-0449139Plan #001PY 2024

245 WATERMAN STREET, SUITE 501 - PROVIDENCE, RI 02906401-351-0066

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2.7M

+38.1% from 2023

Total participants

+15.2% from 2023

Average account balance

$78,393

+30.2% from 2023

Annual return

24.62%

+7.82 pp from 2023

Benchmarks

See 37,071 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,071 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.74M

Not enough data

1 years with asset history on file

Average account balance

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

$78K

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.

152.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$270K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+24.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$830

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 codes2E2G2J3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

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

$29K

$1263 / participant

Other / not subdivided$29K100.0%

% of EOY assets

1.059%

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

$78,393

$201,370-61.1%

$184,256-57.5%

$145,897-46.3%

Participation rate

87.0%

87.5%-0.5pp

86.8%+0.1pp

80.3%+6.7pp

Annual return

24.62%

29.05%-4.4pp

28.85%-4.2pp

552.29%-527.7pp

Employer contribution / active EE

$3,771

$7,024-46.3%

$6,427-41.3%

$4,663-19.1%

Participant deferral / active EE

$7,958

$9,808-18.9%

$9,133-12.9%

$6,689+19.0%

Admin fee / account holder

$830

$16,364-94.9%

$13,899-94.0%

$13,390-93.8%

DECOTIS INSURANCE ASSOCIATES INC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DECOTIS INSURANCE ASSOCIATES 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