Retirement plan

WHEATLEY AGENCY, INC./NATIONAL CLAIMS ADMINISTRATORS, INC. 401(K) SAVINGS PLAN

Name: WHEATLEY AGENCY, INC. - WHEATLEY AGENCY, INC./NATIONAL CLAIMS ADMINISTRATORS, INC. 401(K) SAVINGS PLAN (2024) Form 5500
Creator: WHEATLEY AGENCY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WHEATLEY AGENCY, INC./NATIONAL CLAIMS ADMINISTRATORS, INC. 401(K) SAVINGS PLAN, WHEATLEY AGENCY, INC.

WHEATLEY AGENCY, INC.EIN 11-2280101Plan #001PY 2024

377 OAK STREET, 2ND FLOOR - GARDEN CITY, NY 11530516-745-0072wheatleyagency.comLinkedIn1-10 employeesinsurance

Prospect flagsHigh feesLow participationHigh assets / participantLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$2.3M

+23.0% from 2023

Total participants

0.0% from 2023

Average account balance

$376,651

+23.0% from 2023

Annual return

17.89%

+0.14 pp from 2023

Benchmarks

See 37,207 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,207 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.26M

Not enough data

1 years with asset history on file

Average account balance

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

$377K

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

$93K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+17.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2518

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 codes2E2G2J2T3D

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.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$15K

$2518 / participant

Other / not subdivided$15K100.0%

% of EOY assets

0.668%

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

$376,651

$201,259+87.1%

$184,200+104.5%

$145,959+158.1%

Participation rate

66.7%

87.5%-20.8pp

86.8%-20.2pp

80.3%-13.6pp

Annual return

17.89%

28.98%-11.1pp

28.80%-10.9pp

561.95%-544.1pp

Employer contribution / active EE

$7,018-100.0%

$6,424-100.0%

$4,661-100.0%

Participant deferral / active EE

$15,565

$9,806+58.7%

$9,132+70.4%

$6,689+132.7%

Admin fee / account holder

$2,518

$16,372-84.6%

$13,907-81.9%

$13,398-81.2%

WHEATLEY AGENCY, INC./NATIONAL CLAIMS ADMINISTRATORS, INC. 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WHEATLEY AGENCY, INC./NATIONAL CLAIMS ADMINISTRATORS, INC. 401(K) SAVINGS 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