Retirement plan

RAY INSURANCE AGENCY, INC. 401(K) PLAN AND TRUST

Name: RAY INSURANCE AGENCY, INC. - RAY INSURANCE AGENCY, INC. 401(K) PLAN AND TRUST (2022) Form 5500
Creator: RAY INSURANCE AGENCY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RAY INSURANCE AGENCY, INC. 401(K) PLAN AND TRUST, RAY INSURANCE AGENCY, INC.

RAY INSURANCE AGENCY, INC.EIN 31-0979334Plan #001PY 2022

1580 FISHINGER ROAD - COLUMBUS, OH 43221614-459-1122rayinsurance.comLinkedIn11-50 employeesinsurance

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$801K

+16.0% from 2021

Total participants

-14.3% from 2021

Average account balance

$72,843

+16.0% from 2021

Annual return

1.83%

-26.83 pp from 2021

Benchmarks

See 35,205 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort35,205 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.36M

Not enough data

1 years with asset history on file

Average account balance

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

$91K

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.

93.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$129K

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

+11.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$31

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 codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$23K

$2082 / participant

Other / not subdivided$23K100.0%

% of EOY assets

2.858%

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

$72,843

$167,533-56.5%

$151,645-52.0%

$134,545-45.9%

Participation rate

90.9%

88.4%+2.5pp

87.5%+3.4pp

81.2%+9.7pp

Annual return

1.83%

7.81%-6.0pp

3.34%-1.5pp

418.37%-416.5pp

Employer contribution / active EE

$3,686

$6,828-46.0%

$6,165-40.2%

$4,742-22.3%

Participant deferral / active EE

$7,274

$8,985-19.0%

$8,363-13.0%

$6,401+13.6%

Admin fee / account holder

$2,082

$13,781-84.9%

$11,614-82.1%

$11,431-81.8%

RAY INSURANCE AGENCY, INC. 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RAY INSURANCE AGENCY, INC. 401(K) PLAN AND 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