Retirement plan

GIBSON INSURANCE AGENCY, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Name: GIBSON INSURANCE AGENCY, INC. - GIBSON INSURANCE AGENCY, INC. EMPLOYEE STOCK OWNERSHIP PLAN (2023) Form 5500
Creator: GIBSON INSURANCE AGENCY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GIBSON INSURANCE AGENCY, INC. EMPLOYEE STOCK OWNERSHIP PLAN, GIBSON INSURANCE AGENCY, INC.

GIBSON INSURANCE AGENCY, INC.EIN 35-1116724Plan #003PY 2023

202 S MICHIGAN STREET SUITE 1400 - SOUTH BEND, IN 46601574-245-3597

Other plans on this EIN

1 filing

#002Retirement-$32.0M assets

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$22.6M

+11.9% from 2022

Total participants

179

+19.3% from 2022

Average account balance

$126,532

-6.3% from 2022

Annual return

17.12%

+1.29 pp from 2022

Benchmarks

See 2,152 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,152 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$25.46M

Not enough data

1 years with asset history on file

Average account balance

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

$134K

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.

190

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.

99.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$574K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+17.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
TRANSITION FINANCE STRATEGIES, LLC1 year Service code 64 · EIN 13-4238973	Recordkeeping Fees	$21,702
REAGAN COMPANIES ASSET MGMT.7 years Filed as: REAGAN CONSULTING, INC. Service code 34 3495 PIEDMONT ROAD, NE · ATLANTA, GA 30305	Valuation (appraisals, etc.)	$15,500
KRUGGEL, LAWTON & COMPANY, LLC2 years Service code 10 · EIN 35-1307701	Accounting	$10,500

Plan features & details

Pension benefit codes2I2P2Q2K

Plan features

2I
Stock bonus
Stock bonus plan.
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.
2P
Leveraged ESOP
Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: KRUGGEL, LAWTON, & COMPANY LLC
Auditor EIN: 351307701
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$126,532

$130,294-2.9%

$170,057-25.6%

$71,529+76.9%

Participation rate

100.0%

86.2%+13.8pp

87.0%+13.0pp

67.9%+32.1pp

Annual return

17.12%

20.36%-3.2pp

53.42%-36.3pp

28.97%-11.9pp

Employer contribution / active EE

$3,029

$4,385-30.9%

$6,790-55.4%

$2,590+17.0%

Participant deferral / active EE

$6,928-100.0%

$10,411-100.0%

$4,291-100.0%

Admin fee / account holder

$966-100.0%

$12,826-100.0%

$1,588-100.0%

Provider

Service type

Compensation

TRANSITION FINANCE STRATEGIES, LLC1 year

Service code 64 · EIN 13-4238973

Recordkeeping Fees

$21,702

REAGAN COMPANIES ASSET MGMT.7 years

Filed as: REAGAN CONSULTING, INC.

Service code 34

3495 PIEDMONT ROAD, NE · ATLANTA, GA 30305

Valuation (appraisals, etc.)

$15,500

KRUGGEL, LAWTON & COMPANY, LLC2 years

Service code 10 · EIN 35-1307701

Accounting

$10,500

GIBSON INSURANCE AGENCY, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

GIBSON INSURANCE AGENCY, INC. EMPLOYEE STOCK OWNERSHIP PLAN

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