Retirement plan

BERSON-SOKOL AGENCY, INC. 401(K) PROFIT SHARING PLAN

Name: BERSON-SOKOL AGENCY, INC. - BERSON-SOKOL AGENCY, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: BERSON-SOKOL AGENCY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BERSON-SOKOL AGENCY, INC. 401(K) PROFIT SHARING PLAN, BERSON-SOKOL AGENCY, INC.

BERSON-SOKOL AGENCY, INC.EIN 34-1127514Plan #001PY 2024

25550 CHAGRIN BLVD, STE 101 - BEACHWOOD, OH 44122216-464-1542berson-sokol.comLinkedIn11-50 employeesinsurance

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$2.3M

+9.7% from 2023

Total participants

+7.1% from 2023

Average account balance

$167,148

+1.9% from 2023

Annual return

5.98%

-2.15 pp from 2023

Benchmarks

See 37,071 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,071 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.34M

Not enough data

1 years with asset history on file

Average account balance

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

$167K

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.

116.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$80K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+5.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$167

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

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

Expense breakdown

Schedule H Part II

Admin total

$2K

$195 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.100%

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

$167,148

$201,370-17.0%

$184,256-9.3%

$145,897+14.6%

Participation rate

91.7%

87.5%+4.2pp

86.8%+4.8pp

80.3%+11.4pp

Annual return

5.98%

29.05%-23.1pp

28.85%-22.9pp

552.29%-546.3pp

Employer contribution / active EE

$7,024-100.0%

$6,427-100.0%

$4,663-100.0%

Participant deferral / active EE

$6,645

$9,808-32.2%

$9,133-27.2%

$6,689-0.7%

Admin fee / account holder

$167

$16,364-99.0%

$13,899-98.8%

$13,390-98.8%

BERSON-SOKOL AGENCY, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BERSON-SOKOL AGENCY, INC. 401(K) PROFIT SHARING 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