Retirement plan

INSURANCE PLACE AGENCY LLC 401(K) PROFIT SHARING PLAN & TRUST

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

INSURANCE PLACE AGENCY LLCEIN 26-1090460Plan #001PY 2024

3403 GREY BIRCH DR - BALDWINSVILLE, NY 13027315-529-3261theinsuranceplaceagency.comLinkedIn1-10 employeesinsurance

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$859K

+26.5% from 2023

Total participants

+12.5% from 2023

Average account balance

$95,477

+12.5% from 2023

Annual return

13.72%

-4.56 pp from 2023

Benchmarks

See 49,898 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort49,898 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$859K

Not enough data

1 years with asset history on file

Average account balance

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

$95K

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.

128.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$87K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+13.72%

Not enough data

1 years with return on file

Admin fee / account holder

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

$871

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 codes2E2F2G2J2T3D

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

$8K

$1120 / participant

Other / not subdivided$8K100.0%

% of EOY assets

0.912%

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

$95,477

$88,778+7.5%

$81,844+16.7%

$145,884-34.6%

Participation rate

100.0%

75.1%+24.9pp

72.4%+27.6pp

80.3%+19.7pp

Annual return

13.72%

1033.03%-1019.3pp

778.87%-765.1pp

551.85%-538.1pp

Employer contribution / active EE

$2,027

$3,087-34.3%

$2,916-30.5%

$4,662-56.5%

Participant deferral / active EE

$10,378

$4,648+123.3%

$4,323+140.0%

$6,690+55.1%

Admin fee / account holder

$871

$8,430-89.7%

$7,355-88.2%

$13,392-93.5%

INSURANCE PLACE AGENCY LLC 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INSURANCE PLACE AGENCY LLC 401(K) PROFIT SHARING PLAN & TRUST

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