Retirement plan

ACRISURE 401(K) SAVINGS PLAN

Name: ACRISURE, LLC - ACRISURE 401(K) SAVINGS PLAN (2022) Form 5500
Creator: ACRISURE, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ACRISURE 401(K) SAVINGS PLAN, ACRISURE, LLC

ACRISURE, LLCEIN 26-3554645Plan #025PY 2022

100 OTTAWA AVENUE, SW - GRAND RAPIDS, MI 49503616-317-8363acrisure.comLinkedIn10001+ employeesfinancial services

Other plans on this EIN

3 filings

#001Retirement-$38.8M assets #016Retirement-$5.7M assets #028Retirement-$3.6M assets

Prospect flagsLow participationLow employer contributionLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$607.4M

-6.6% from 2021

Total participants

11,940

+53.7% from 2021

Average account balance

$79,670

-23.2% from 2021

Annual return

-9.74%

-43.32 pp from 2021

Benchmarks

See 84 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants>=10,000

Cohort84 peers

Snapshot2022

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$1.13B

Not enough data

1 years with asset history on file

Average account balance

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

$107K

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.

10,615

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.

73.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$108.58M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+31.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$51

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

See the 9-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 4 by compensation

Provider	Service type	Compensation
ALERUS FINANCIAL, N.A.2 years Filed as: ALERUS FINANCIAL, N.A Service code 15 · EIN 45-6202081	Recordkeeping	$781,449
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$205,965
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILL LYNCH, FENNER & Service code 17 · EIN 13-5674085	Pension Consulting	$89,441
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: THE HOWELL & SHARP GROUP AT MERRILL Service code 26 250 MONROE AVE NW · GRAND RAPIDS, MI 49503	Advisory (Participants)	$89,286

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$669K

$63 / participant

Investment mgmt$58K8.7%
Contract admin$583K87.1%
Other / not subdivided$28K4.2%

% of EOY assets

0.110%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

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

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$79,670

$118,441-32.7%

$151,611-47.5%

$89,394-10.9%

Participation rate

59.6%

88.0%-28.4pp

87.5%-27.9pp

71.3%-11.7pp

Annual return

-9.74%

-9.10%-0.6pp

3.33%-13.1pp

-11.89%+2.1pp

Employer contribution / active EE

$1,773

$4,770-62.8%

$6,166-71.2%

$3,022-41.3%

Participant deferral / active EE

$4,754

$7,648-37.8%

$8,363-43.2%

$5,123-7.2%

Admin fee / account holder

$88

$90-2.1%

$11,616-99.2%

$79+10.5%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.2 years

Filed as: ALERUS FINANCIAL, N.A

Service code 15 · EIN 45-6202081

Recordkeeping

$781,449

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$205,965

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILL LYNCH, FENNER &

Service code 17 · EIN 13-5674085

Pension Consulting

$89,441

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: THE HOWELL & SHARP GROUP AT MERRILL

Service code 26

250 MONROE AVE NW · GRAND RAPIDS, MI 49503

Advisory (Participants)

$89,286

ACRISURE 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ACRISURE 401(K) SAVINGS 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