Retirement plan

NJM 401(K) RETIREMENT PLAN

Name: NEW JERSEY MANUFACTURERS INSURANCE COMPANY - NJM 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: NEW JERSEY MANUFACTURERS INSURANCE COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NJM 401(K) RETIREMENT PLAN, NEW JERSEY MANUFACTURERS INSURANCE COMPANY

NEW JERSEY MANUFACTURERS INSURANCE COMPANYEIN 21-0524225Plan #001PY 2023

301 SULLIVAN WAY - WEST TRENTON, NJ 08628609-883-1300

Other plans on this EIN

1 filing

#333Retirement-$785.6M assets

Prospect flagsLow returns

Top hat statement on fileNQDC

Filed August 14, 2019 (most recent of 3 filings on file)

Plan administrator

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301 Sullivan Way

W. Trenton, NJ 08628

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Plans declared (1)

Deferred Long-Term Incentive Compensation Plan4 emp

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Total assets (EOY)

$787.1M

-58.4% from 2016

Total participants

3,484

-36.5% from 2016

Average account balance

$230,079

-29.6% from 2016

Annual return

14.68%

-34.76 pp from 2016

Benchmarks

See 577 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort577 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$875.71M

Not enough data

1 years with asset history on file

Average account balance

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

$254K

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.

3,448

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.

97.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$34.48M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+14.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$62

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 1 by compensation

Provider	Service type	Compensation
THE VANGUARD GROUP, INC.7 years Filed as: VANGUARD GROUP INC. Service code 15 · EIN 23-1945930	Recordkeeping	$196,683

Plan features & details

Pension benefit codes2E2F2G2J2K2S3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$197K

$81 / participant

Recordkeeping$168K85.3%
Contract admin$16K8.3%
Other / not subdivided$12K6.3%

% of EOY assets

0.025%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDO USA, P.C.
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$230,079

$112,711+104.1%

$170,055+35.3%

$80,187+186.9%

Participation rate

97.4%

87.4%+10.0pp

87.0%+10.4pp

72.9%+24.5pp

Annual return

14.68%

67.06%-52.4pp

53.43%-38.7pp

40.40%-25.7pp

Employer contribution / active EE

$6,425

$4,488+43.2%

$6,790-5.4%

$2,980+115.6%

Participant deferral / active EE

$7,069

$7,861-10.1%

$10,410-32.1%

$5,016+40.9%

Admin fee / account holder

$57

$99-42.2%

$12,828-99.6%

$145-60.4%

Provider

Service type

Compensation

THE VANGUARD GROUP, INC.7 years

Filed as: VANGUARD GROUP INC.

Service code 15 · EIN 23-1945930

Recordkeeping

$196,683

NJM 401(K) RETIREMENT 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

NJM 401(K) RETIREMENT 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