Retirement plan

FEDERAL LIFE SAVINGS AND PROFIT SHARING PLAN

Name: FEDERAL LIFE INSURANCE COMPANY - FEDERAL LIFE SAVINGS AND PROFIT SHARING PLAN (2022) Form 5500
Creator: FEDERAL LIFE INSURANCE COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FEDERAL LIFE SAVINGS AND PROFIT SHARING PLAN, FEDERAL LIFE INSURANCE COMPANY

FEDERAL LIFE INSURANCE COMPANYEIN 36-1063550Plan #002PY 2022

3750 W. DEERFIELD ROAD - RIVERWOODS, IL 60015847-520-1900federallife.comLinkedIn51-200 employeesinsurance

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$18.3M

-14.7% from 2021

Total participants

-2.6% from 2021

Average account balance

$481,253

-12.4% from 2021

Annual return

-13.80%

-33.64 pp from 2021

Benchmarks

See 7,130 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,130 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$16.52M

Not enough data

1 years with asset history on file

Average account balance

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

$367K

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.

83.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$738K

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

+12.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$82892

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 codes2E2F2G2J3D

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.
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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$552K

$15325 / participant

Other / not subdivided$552K100.0%

% of EOY assets

3.017%

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

$481,253

$110,083+337.2%

$151,645+217.4%

$68,490+602.7%

Participation rate

100.0%

84.0%+16.0pp

87.5%+12.5pp

67.9%+32.1pp

Annual return

-13.80%

-10.12%-3.7pp

3.34%-17.1pp

-7.85%-6.0pp

Employer contribution / active EE

$2,350

$4,470-47.4%

$6,165-61.9%

$2,597-9.5%

Participant deferral / active EE

$7,806

$6,526+19.6%

$8,363-6.7%

$4,028+93.8%

Admin fee / account holder

$14,519

$7,718+88.1%

$11,614+25.0%

$5,403+168.7%

FEDERAL LIFE SAVINGS AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FEDERAL LIFE SAVINGS AND 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