Retirement plan

AGENCY INSURANCE BROKERS, INC. PROFIT SHARING 401(K) PLAN

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

AGENCY INSURANCE BROKERS, INC.EIN 14-1512403Plan #002PY 2024

41 BROAD STREET - PLATTSBURGH, NY 12901518-561-1000agencyins.netLinkedIn11-50 employeesinsurance

Prospect flagsHigh feesLow participant contributionLow fidelity bond

How to read this page

Total assets (EOY)

$2.6M

+15.7% from 2023

Total participants

+8.0% from 2023

Average account balance

$95,147

+7.1% from 2023

Annual return

12.90%

-0.91 pp from 2023

Benchmarks

See 37,126 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,126 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.57M

Not enough data

1 years with asset history on file

Average account balance

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

$95K

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.

150.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$66K

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

+12.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$583

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 codes2E2F2G2J2T3D

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

3 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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$16K

$874 / participant

Other / not subdivided$16K100.0%

% of EOY assets

0.613%

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

$95,147

$201,344-52.7%

$184,243-48.4%

$145,877-34.8%

Participation rate

100.0%

87.5%+12.5pp

86.8%+13.2pp

80.3%+19.7pp

Annual return

12.90%

29.01%-16.1pp

28.82%-15.9pp

551.28%-538.4pp

Employer contribution / active EE

$1,908

$7,022-72.8%

$6,427-70.3%

$4,663-59.1%

Participant deferral / active EE

$1,733

$9,807-82.3%

$9,132-81.0%

$6,691-74.1%

Admin fee / account holder

$583

$16,382-96.4%

$13,914-95.8%

$13,402-95.7%

AGENCY INSURANCE BROKERS, INC. PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AGENCY INSURANCE BROKERS, INC. PROFIT SHARING 401(K) 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