Retirement plan

BGMIC 401(K) PLAN

Name: BEDFORD GRANGE MUTUAL INSURANCE COMPANY - BGMIC 401(K) PLAN (2024) Form 5500
Creator: BEDFORD GRANGE MUTUAL INSURANCE COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BGMIC 401(K) PLAN, BEDFORD GRANGE MUTUAL INSURANCE COMPANY

BEDFORD GRANGE MUTUAL INSURANCE COMPANYEIN 23-1267822Plan #001PY 2024

477 WEST PITT STREET, P.O. BOX 31 - BEDFORD, PA 15522814-623-8515bedfordgrangemutual.comLinkedIn11-50 employeesinsurance

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$1.1M

-0.1% from 2023

Total participants

0.0% from 2023

Average account balance

$114,179

+19.9% from 2023

Annual return

8.43%

-7.61 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

$1.14M

Not enough data

1 years with asset history on file

Average account balance

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

$114K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$95K

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

+8.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$20231

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 codes2E2J2F2G3H3D

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

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

$202K

$20231 / participant

Other / not subdivided$202K100.0%

% of EOY assets

17.719%

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

$114,179

$201,372-43.3%

$184,260-38.0%

$145,884-21.7%

Participation rate

80.0%

87.5%-7.5pp

86.8%-6.8pp

80.3%-0.3pp

Annual return

8.43%

29.04%-20.6pp

28.84%-20.4pp

551.85%-543.4pp

Employer contribution / active EE

$4,348

$7,024-38.1%

$6,427-32.4%

$4,662-6.7%

Participant deferral / active EE

$5,153

$9,808-47.5%

$9,133-43.6%

$6,690-23.0%

Admin fee / account holder

$20,231

$16,362+23.6%

$13,898+45.6%

$13,392+51.1%

BGMIC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BGMIC 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