Retirement plan

HONIG CONTE PORRINO INSURANCE AGENCY, INC. 401(K) PLAN

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

HONIG CONTE PORRINO INSURANCE AGENCY, INC.EIN 20-4033080Plan #001PY 2024

129 WEST 27TH STREET, 6TH FLOOR - NEW YORK, NY 10001212-777-7113honigconte.comLinkedIn11-50 employeesinsurance

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$3.6M

+8.5% from 2023

Total participants

+8.0% from 2023

Average account balance

$132,018

+0.5% from 2023

Annual return

8.48%

-5.03 pp from 2023

Benchmarks

See 37,087 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,087 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.56M

Not enough data

1 years with asset history on file

Average account balance

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

$132K

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.

135.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$195K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+8.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7575

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 codes2E2F2G2J3D

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.
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

2 tripped

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.

Expense breakdown

Schedule H Part II

Admin total

$205K

$10226 / participant

Other / not subdivided$205K100.0%

% of EOY assets

5.738%

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

$132,018

$201,372-34.4%

$184,260-28.4%

$145,884-9.5%

Participation rate

100.0%

87.5%+12.5pp

86.8%+13.2pp

80.3%+19.7pp

Annual return

8.48%

29.04%-20.6pp

28.84%-20.4pp

551.85%-543.4pp

Employer contribution / active EE

$2,696

$7,024-61.6%

$6,427-58.1%

$4,662-42.2%

Participant deferral / active EE

$7,039

$9,808-28.2%

$9,133-22.9%

$6,690+5.2%

Admin fee / account holder

$7,575

$16,362-53.7%

$13,898-45.5%

$13,392-43.4%

HONIG CONTE PORRINO INSURANCE AGENCY, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HONIG CONTE PORRINO INSURANCE AGENCY, INC. 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