Retirement plan

ACSON INSURANCE SERVICES 401(K) PLAN

Name: ACSON INSURANCE SERVICES, INC. - ACSON INSURANCE SERVICES 401(K) PLAN (2023) Form 5500
Creator: ACSON INSURANCE SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ACSON INSURANCE SERVICES 401(K) PLAN, ACSON INSURANCE SERVICES, INC.

ACSON INSURANCE SERVICES, INC.EIN 30-0040725Plan #001PY 2023

1050 WILSHIRE DR, STE 140 - TROY, MI 480841564248-269-9900LinkedIn1-10 employeesinformation technology and services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$753K

+43.8% from 2022

Total participants

+12.5% from 2022

Average account balance

$83,648

+27.8% from 2022

Annual return

19.09%

+40.25 pp from 2022

Benchmarks

See 36,165 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,165 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$986K

Not enough data

1 years with asset history on file

Average account balance

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

$110K

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.

112.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$132K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+13.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$347

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

$3K

$356 / participant

Other / not subdivided$3K100.0%

% of EOY assets

0.379%

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

$83,648

$185,883-55.0%

$170,043-50.8%

$139,466-40.0%

Participation rate

100.0%

87.8%+12.2pp

87.0%+13.0pp

80.3%+19.7pp

Annual return

19.09%

60.54%-41.5pp

53.40%-34.3pp

373.66%-354.6pp

Employer contribution / active EE

$3,551

$7,596-53.3%

$6,790-47.7%

$4,754-25.3%

Participant deferral / active EE

$12,600

$11,626+8.4%

$10,410+21.0%

$6,712+87.7%

Admin fee / account holder

$317

$15,393-97.9%

$12,824-97.5%

$11,409-97.2%

ACSON INSURANCE SERVICES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ACSON INSURANCE SERVICES 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