Retirement plan

CUSTOM INSURANCE AGENCY, INC. 401(K) PLAN

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

CUSTOM INSURANCE AGENCY, INC.EIN 20-5533156Plan #001PY 2024

50551 VAN DYKE AVENUE - SHELBY TOWNSHIP, MI 48317586-935-6110custominsuranceagency.comLinkedIn11-50 employeesinsurance

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$670K

+33.9% from 2023

Total participants

0.0% from 2023

Average account balance

$95,745

+33.9% from 2023

Annual return

18.75%

+1.75 pp from 2023

Benchmarks

See 12,265 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants<25

Cohort12,265 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$670K

Not enough data

1 years with asset history on file

Average account balance

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

$96K

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.

116.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$76K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+18.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$648

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 codes2E3D2G2J2F2T

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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$5K

$756 / participant

Other / not subdivided$5K100.0%

% of EOY assets

0.677%

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

$95,745

$108,942-12.1%

$100,415-4.7%

$145,897-34.4%

Participation rate

100.0%

83.0%+17.0pp

81.5%+18.5pp

80.3%+19.7pp

Annual return

18.75%

58.27%-39.5pp

49.47%-30.7pp

552.29%-533.5pp

Employer contribution / active EE

$2,807

$4,422-36.5%

$3,943-28.8%

$4,663-39.8%

Participant deferral / active EE

$9,858

$8,461+16.5%

$8,091+21.8%

$6,689+47.4%

Admin fee / account holder

$648

$9,702-93.3%

$7,906-91.8%

$13,390-95.2%

CUSTOM INSURANCE AGENCY, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CUSTOM 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