Retirement plan

GANNON ASSOCIATES 401(K) PROFIT SHARING PLAN

Name: ASSOCIATED INSURANCE & FINANCIAL SERVICES, LLC - GANNON ASSOCIATES 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: ASSOCIATED INSURANCE & FINANCIAL SERVICES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GANNON ASSOCIATES 401(K) PROFIT SHARING PLAN, ASSOCIATED INSURANCE & FINANCIAL SERVICES, LLC

ASSOCIATED INSURANCE & FINANCIAL SERVICES, LLCEIN 23-3092859Plan #002PY 2023

PO BOX 327 - TOWANDA, PA 188480327570-265-3197LinkedIn51-200 employeesinsurance

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$12.1M

+6.8% from 2022

Total participants

+4.7% from 2022

Average account balance

$136,515

+2.0% from 2022

Annual return

15.62%

+33.11 pp from 2022

Benchmarks

See 7,176 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,176 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.79M

Not enough data

1 years with asset history on file

Average account balance

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

$186K

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.

123.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$574K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+13.34%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5753

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

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

$1.5M

$21196 / participant

Other / not subdivided$1M100.0%

% of EOY assets

12.212%

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

$136,515

$125,797+8.5%

$170,043-19.7%

$75,173+81.6%

Participation rate

100.0%

83.6%+16.4pp

87.0%+13.0pp

67.2%+32.8pp

Annual return

15.62%

27.20%-11.6pp

53.40%-37.8pp

160.72%-145.1pp

Employer contribution / active EE

$2,061

$4,616-55.3%

$6,790-69.6%

$2,671-22.8%

Participant deferral / active EE

$4,734

$6,838-30.8%

$10,410-54.5%

$4,126+14.7%

Admin fee / account holder

$16,671

$8,177+103.9%

$12,824+30.0%

$5,651+195.0%

GANNON ASSOCIATES 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GANNON ASSOCIATES 401(K) PROFIT SHARING 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