Retirement plan

FINGER LAKES FIRE & CASUALTY COMPANY 401(K) PLAN

Name: FINGER LAKES FIRE & CASUALTY COMPANY - FINGER LAKES FIRE & CASUALTY COMPANY 401(K) PLAN (2021) 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 2021

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)

$5.6M

+12.1% from 2020

Total participants

-5.6% from 2020

Average account balance

$350,505

+19.2% from 2020

Annual return

12.95%

-2.72 pp from 2020

Benchmarks

See 33,463 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort33,463 peers

Snapshot2021

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

$323K

$21546 / participant

Other / not subdivided$323K100.0%

% of EOY assets

5.763%

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

$350,505

$209,888+67.0%

$189,545+84.9%

$167,553+109.2%

Participation rate

93.3%

88.7%+4.7pp

87.8%+5.5pp

82.1%+11.2pp

Annual return

12.95%

748.66%-735.7pp

555.36%-542.4pp

478.89%-465.9pp

Employer contribution / active EE

$11,902

$6,915+72.1%

$6,162+93.1%

$4,840+145.9%

Participant deferral / active EE

$6,876

$8,934-23.0%

$8,220-16.4%

$6,343+8.4%

Admin fee / account holder

$20,200

$14,300+41.3%

$12,049+67.6%

$12,316+64.0%

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