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 (2023) 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 2023

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

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$843K

+5.2% from 2022

Total participants

+16.7% from 2022

Average account balance

$76,654

+5.2% from 2022

Annual return

-8.96%

-10.79 pp from 2022

Benchmarks

See 36,180 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,180 peers

Snapshot2023

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

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

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

$76,654

$185,856-58.8%

$170,028-54.9%

$139,456-45.0%

Participation rate

76.9%

87.8%-10.8pp

87.0%-10.1pp

80.3%-3.4pp

Annual return

-8.96%

60.52%-69.5pp

53.39%-62.4pp

373.45%-382.4pp

Employer contribution / active EE

$3,225

$7,593-57.5%

$6,788-52.5%

$4,753-32.1%

Participant deferral / active EE

$5,525

$11,623-52.5%

$10,409-46.9%

$6,711-17.7%

Admin fee / account holder

$15,387-100.0%

$12,820-100.0%

$11,407-100.0%

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

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

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

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion