Retirement plan

FINGER LAKES FIRE & CASUALTY COMPANY 401(K) PLAN

Name: FINGER LAKES FIRE & CASUALTY COMPANY - FINGER LAKES FIRE & CASUALTY COMPANY 401(K) PLAN (2020) Form 5500
Creator: FINGER LAKES FIRE & CASUALTY COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FINGER LAKES FIRE & CASUALTY COMPANY 401(K) PLAN, FINGER LAKES FIRE & CASUALTY COMPANY

FINGER LAKES FIRE & CASUALTY COMPANYEIN 15-0412495Plan #002PY 2020

6905 ROUTE 227 - TRUMANSBURG, NY 14886607-387-6831flfcc.comLinkedIn11-50 employeesinsurance

Prospect flagsHigh feesHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$5M

+19.2% from 2019

Total participants

-5.3% from 2019

Average account balance

$294,158

+26.2% from 2019

Annual return

15.67%

-5.03 pp from 2019

Benchmarks

See 32,149 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort32,149 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.23M

Not enough data

1 years with asset history on file

Average account balance

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

$452K

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.

114.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$322K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$23K

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

+17.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$33208

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 codes2E2F2J2T3D

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).
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

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

$69K

$4945 / participant

Other / not subdivided$69K100.0%

% of EOY assets

1.384%

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

$294,158

$197,637+48.8%

$177,848+65.4%

$158,982+85.0%

Participation rate

92.9%

88.5%+4.3pp

87.7%+5.1pp

82.0%+10.9pp

Annual return

15.67%

58.77%-43.1pp

48.33%-32.7pp

302.99%-287.3pp

Employer contribution / active EE

$9,977

$6,698+48.9%

$5,919+68.6%

$4,763+109.5%

Participant deferral / active EE

$5,467

$8,405-35.0%

$7,714-29.1%

$5,983-8.6%

Admin fee / account holder

$4,072

$15,406-73.6%

$12,431-67.2%

$11,252-63.8%

FINGER LAKES FIRE & CASUALTY COMPANY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FINGER LAKES FIRE & CASUALTY COMPANY 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