Retirement plan

NEW YORK CENTRAL MUTUAL FIRE INSURANCE COMPANY 401K RETIREMENT SAVINGS PLAN

Name: NEW YORK CENTRAL MUTUAL FIRE INSURANCE CO. - NEW YORK CENTRAL MUTUAL FIRE INSURANCE COMPANY 401K RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: NEW YORK CENTRAL MUTUAL FIRE INSURANCE CO.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEW YORK CENTRAL MUTUAL FIRE INSURANCE COMPANY 401K RETIREMENT SAVINGS PLAN, NEW YORK CENTRAL MUTUAL FIRE INSURANCE CO.

NEW YORK CENTRAL MUTUAL FIRE INSURANCE CO.EIN 15-0398170Plan #002PY 2023

1899 CENTRAL PLZ E - EDMESTON, NY 133351828607-965-2476LinkedIn11-50 employeesinsurance

Other plans on this EIN

1 filing

#001Retirement-$139.9M assets

Prospect flagsNo flags tripped

Top hat statement on fileNQDC

Filed January 10, 2019 (most recent of 2 filings on file)

Plan administrator

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1899 Central Plaza East

Edmeston State: NY Zip Code: 13335

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Plans declared (1)

Supplemental Executive Retirement Plan24 emp

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Total assets (EOY)

$75.1M

+19.2% from 2022

Total participants

1,006

+3.8% from 2022

Average account balance

$77,319

+15.4% from 2022

Annual return

16.79%

+31.48 pp from 2022

Benchmarks

See 1,521 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,521 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$82.51M

Not enough data

1 years with asset history on file

Average account balance

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

$79K

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.

1,043

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.

98.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.98M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$88

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290	Contract Administrator	$86,103
NORTHWESTERN MUTUAL INVESTMENT SERV2 years Service code 49 · EIN 52-2114207	Other Services	$6,836
MORNINGSTAR2 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381	Advisory (Participants)	$0
WILSHIRE ASSOCIATES INCORPORATED2 years Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$86K

$98 / participant

Contract admin$86K100.0%

% of EOY assets

0.115%

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: LUMSDEN & MCCORMICK, LLP
Auditor EIN: 160765486
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$77,319

$100,272-22.9%

$170,057-54.5%

$74,473+3.8%

Participation rate

96.0%

87.4%+8.6pp

87.0%+9.0pp

70.7%+25.3pp

Annual return

16.79%

66.12%-49.3pp

53.42%-36.6pp

34.36%-17.6pp

Employer contribution / active EE

$4,266-100.0%

$6,790-100.0%

$2,638-100.0%

Participant deferral / active EE

$5,916

$7,147-17.2%

$10,411-43.2%

$4,530+30.6%

Admin fee / account holder

$89

$235-62.2%

$12,826-99.3%

$347-74.4%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY9+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$86,103

NORTHWESTERN MUTUAL INVESTMENT SERV2 years

Service code 49 · EIN 52-2114207

Other Services

$6,836

MORNINGSTAR2 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26 · EIN 36-4317381

Advisory (Participants)

WILSHIRE ASSOCIATES INCORPORATED2 years

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

NEW YORK CENTRAL MUTUAL FIRE INSURANCE COMPANY 401K RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEW YORK CENTRAL MUTUAL FIRE INSURANCE COMPANY 401K RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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