Retirement plan

AMERICAN TRANSIT INSURANCE COMPANY 401(K) PROFIT SHARING PLAN

Name: AMERICAN TRANSIT INSURANCE COMPANY - AMERICAN TRANSIT INSURANCE COMPANY 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: AMERICAN TRANSIT INSURANCE COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AMERICAN TRANSIT INSURANCE COMPANY 401(K) PROFIT SHARING PLAN, AMERICAN TRANSIT INSURANCE COMPANY

AMERICAN TRANSIT INSURANCE COMPANYEIN 13-2724937Plan #001PY 2024

1 METROTECH CENTER, 7TH FLOOR - BROOKLYN, NY 11201212-857-8200american-transit.comLinkedIn51-200 employeesinsurance

Prospect flagsLow returnsHigh feesLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$34.7M

+15.6% from 2023

Total participants

525

-9.5% from 2023

Average account balance

$66,046

+17.2% from 2023

Annual return

11.88%

-1.71 pp from 2023

Benchmarks

See 1,547 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,547 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$34.67M

Not enough data

1 years with asset history on file

Average account balance

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

$66K

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.

525

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

$2.20M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+11.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$308

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

Top 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$68,669
PRIVATE ADVISOR GROUP LLC4 years Service code 27 65 MADISON AVE STE 300 · MORRISTOWN, NJ 07960	Advisory (Plan)	$48,842
SIDE BY SIDE FINANCIALS, INC.6 years Filed as: SIDE BY SIDE FINANCIALS INC Service code 13 3475 CORPORATE WAY, SUITE D · DULUTH, GA 30096	Contract Administrator	$25,459
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER LIFE & ANNUITY INSURANCE Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$16,420

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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

4 tripped

OpportunityLow participant contribution
Participant 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$162K

$308 / participant

Contract admin$162K100.0%

% of EOY assets

0.466%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PKF O'CONNOR DAVIES, LLP
Auditor EIN: 271728945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,046

$129,227-48.9%

$184,260-64.2%

$77,736-15.0%

Participation rate

100.0%

87.4%+12.6pp

86.8%+13.2pp

70.6%+29.4pp

Annual return

11.88%

33.24%-21.4pp

28.84%-17.0pp

31.26%-19.4pp

Employer contribution / active EE

$4,412-100.0%

$6,427-100.0%

$2,728-100.0%

Participant deferral / active EE

$4,184

$7,307-42.7%

$9,133-54.2%

$4,651-10.0%

Admin fee / account holder

$308

$256+20.3%

$13,898-97.8%

$433-29.0%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$68,669

PRIVATE ADVISOR GROUP LLC4 years

Service code 27

65 MADISON AVE STE 300 · MORRISTOWN, NJ 07960

Advisory (Plan)

$48,842

SIDE BY SIDE FINANCIALS, INC.6 years

Filed as: SIDE BY SIDE FINANCIALS INC

Service code 13

3475 CORPORATE WAY, SUITE D · DULUTH, GA 30096

Contract Administrator

$25,459

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER LIFE & ANNUITY INSURANCE

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$16,420

AMERICAN TRANSIT INSURANCE COMPANY 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AMERICAN TRANSIT 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