Retirement plan

GUARANTEE TRUST LIFE INSURANCE COMPANY AND SELECT AFFILIATES 401(K) AND PROFIT SHARING PLAN

Name: GUARANTEE TRUST LIFE INSURANCE COMPANY - GUARANTEE TRUST LIFE INSURANCE COMPANY AND SELECT AFFILIATES 401(K) AND PROFIT SHARING PLAN (2022) Form 5500
Creator: GUARANTEE TRUST LIFE INSURANCE COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GUARANTEE TRUST LIFE INSURANCE COMPANY AND SELECT AFFILIATES 401(K) AND PROFIT SHARING PLAN, GUARANTEE TRUST LIFE INSURANCE COMPANY

GUARANTEE TRUST LIFE INSURANCE COMPANYEIN 36-1174500Plan #333PY 2022

1275 MILWAUKEE AVENUE - GLENVIEW, IL 60025847-699-0600gtlic.comLinkedIn201-500 employeesinsurance

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$40.6M

-17.1% from 2021

Total participants

327

-0.3% from 2021

Average account balance

$125,567

-17.4% from 2021

Annual return

-18.94%

-32.01 pp from 2021

Benchmarks

See 1,529 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,529 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$56.97M

Not enough data

1 years with asset history on file

Average account balance

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

$144K

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.

395

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.

97.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.21M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+15.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$308

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 2 by compensation

Provider	Service type	Compensation
COMMONWEALTH FINANCIAL NETWORK6 years Service code 26 · EIN 04-2675571	Advisory (Participants)	$44,454
JOHN HANCOCK LIFE INSURANCE COMPANY3 years Filed as: JOHN HANCOCK LIFE INSURANCE CO Service code 15 · EIN 01-0233346	Recordkeeping	$852

Plan features & details

Pension benefit codes2E2H2J2K2S2T3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$103K

$376 / participant

Investment mgmt$49K47.0%
Contract admin$55K53.0%

% of EOY assets

0.255%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CRAIG & ASSOCIATES, LLC
Auditor EIN: 200529789
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$125,567

$86,897+44.5%

$151,639-17.2%

$64,819+93.7%

Participation rate

98.5%

87.3%+11.3pp

87.5%+11.1pp

71.5%+27.1pp

Annual return

-18.94%

-3.57%-15.4pp

3.34%-22.3pp

32.84%-51.8pp

Employer contribution / active EE

$4,041

$4,010+0.8%

$6,165-34.5%

$2,507+61.2%

Participant deferral / active EE

$5,488

$6,690-18.0%

$8,363-34.4%

$4,311+27.3%

Admin fee / account holder

$320

$153+109.4%

$11,613-97.2%

$188+70.5%

Provider

Service type

Compensation

COMMONWEALTH FINANCIAL NETWORK6 years

Service code 26 · EIN 04-2675571

Advisory (Participants)

$44,454

JOHN HANCOCK LIFE INSURANCE COMPANY3 years

Filed as: JOHN HANCOCK LIFE INSURANCE CO

Service code 15 · EIN 01-0233346

Recordkeeping

$852

GUARANTEE TRUST LIFE INSURANCE COMPANY AND SELECT AFFILIATES 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GUARANTEE TRUST LIFE INSURANCE COMPANY AND SELECT AFFILIATES 401(K) 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