Retirement plan

HEREFORD INSURANCE COMPANY 401(K)/PROFIT SHARING PLAN

Name: HEREFORD INSURANCE COMPANY - HEREFORD INSURANCE COMPANY 401(K)/PROFIT SHARING PLAN (2015) Form 5500
Creator: HEREFORD INSURANCE COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HEREFORD INSURANCE COMPANY 401(K)/PROFIT SHARING PLAN, HEREFORD INSURANCE COMPANY

HEREFORD INSURANCE COMPANYEIN 11-2774650Plan #001PY 2015

36-01 43RD AVE - LONG ISLAND CITY, NY 11101718-361-9191LinkedIn51-200 employeesinsurance

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$5.1M

No prior year

Total participants

229

No prior year

Average account balance

$24,014

No prior year

Annual return

2.94%

No prior year

Benchmarks

See 2,156 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,156 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.63M

Not enough data

1 years with asset history on file

Average account balance

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

$87K

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.

179

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.

59.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.18M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+14.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$333

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

1 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 codes2A2E2H2J2K

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$875

$5 / participant

Contract admin$875100.0%

% of EOY assets

0.017%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BONAMASSA, MAIETTA & CARTELLI
Auditor EIN: 113554103
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,014

$70,667-66.0%

$123,105-80.5%

$52,331-54.1%

Participation rate

91.6%

83.7%+7.9pp

86.8%+4.8pp

68.1%+23.5pp

Annual return

2.94%

6.23%-3.3pp

13.22%-10.3pp

4.54%-1.6pp

Employer contribution / active EE

$1,313

$2,946-55.4%

$5,151-74.5%

$1,882-30.2%

Participant deferral / active EE

$2,123

$4,493-52.7%

$6,229-65.9%

$3,022-29.8%

Admin fee / account holder

$506-99.2%

$9,014-100.0%

$592-99.3%

HEREFORD INSURANCE COMPANY 401(K)/PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HEREFORD INSURANCE COMPANY 401(K)/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