Retirement plan

M & M INSURANCE GROUP, INC. 401(K) PROFIT SHARING PLAN

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

M & M INSURANCE GROUP, INC.EIN 25-1891751Plan #001PY 2024

2540 NEW BUTLER ROAD, SUITE 102 - NEW CASTLE, PA 16101724-658-7713mm-insurance.comLinkedIn11-50 employeesinsurance

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2M

+18.1% from 2023

Total participants

-6.7% from 2023

Average account balance

$169,382

+47.6% from 2023

Annual return

16.80%

-1.12 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

$2.03M

Not enough data

1 years with asset history on file

Average account balance

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

$169K

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$64K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+16.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3436

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 codes2E2F2J2T3D

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).
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

$41K

$4582 / participant

Other / not subdivided$41K100.0%

% of EOY assets

2.029%

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

$169,382

$201,372-15.9%

$184,260-8.1%

$145,884+16.1%

Participation rate

77.8%

87.5%-9.7pp

86.8%-9.0pp

80.3%-2.5pp

Annual return

16.80%

29.04%-12.2pp

28.84%-12.0pp

551.85%-535.1pp

Employer contribution / active EE

$1,517

$7,024-78.4%

$6,427-76.4%

$4,662-67.5%

Participant deferral / active EE

$5,567

$9,808-43.2%

$9,133-39.0%

$6,690-16.8%

Admin fee / account holder

$3,436

$16,362-79.0%

$13,898-75.3%

$13,392-74.3%

M & M INSURANCE GROUP, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

M & M INSURANCE GROUP, INC. 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