Retirement plan

WEST INSURANCE AGENCY EMPLOYEES PROFIT SHARING/401(K) PLAN

Name: WEST'S INSURANCE AGENCY, INC. C/O CARNOW AND ASSOCIATES, LTD. - WEST INSURANCE AGENCY EMPLOYEES PROFIT SHARING/401(K) PLAN (2016) Form 5500
Creator: WEST'S INSURANCE AGENCY, INC. C/O CARNOW AND ASSOCIATES, LTD.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WEST INSURANCE AGENCY EMPLOYEES PROFIT SHARING/401(K) PLAN, WEST'S INSURANCE AGENCY, INC. C/O CARNOW AND ASSOCIATES, LTD.

WEST'S INSURANCE AGENCY, INC. C/O CARNOW AND ASSOCIATES, LTD.EIN 36-2318873Plan #002PY 2016

778 FRONTAGE ROAD, SUITE 101 - NORTHFIELD, IL 600931209847-501-4622westinsurance.comLinkedIn11-50 employeesinsurance

Other plans on this EIN

1 filing

#001Retirement-$2.6M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.3M

No prior year

Total participants

No prior year

Average account balance

$85,929

No prior year

Annual return

5.56%

No prior year

Benchmarks

See 30,342 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort30,342 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.33M

Not enough data

1 years with asset history on file

Average account balance

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

$206K

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.

140.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$373K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$25K

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

+16.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1542

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 codes2E2F2J3D

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).
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$109K

$7784 / participant

Other / not subdivided$109K100.0%

% of EOY assets

8.454%

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

$85,929

$153,769-44.1%

$133,975-35.9%

$273,972-68.6%

Participation rate

85.7%

88.4%-2.7pp

87.1%-1.4pp

83.0%+2.7pp

Annual return

5.56%

36.51%-30.9pp

29.29%-23.7pp

41.46%-35.9pp

Employer contribution / active EE

$8,948

$6,029+48.4%

$5,211+71.7%

$4,869+83.8%

Participant deferral / active EE

$6,188

$6,958-11.1%

$6,282-1.5%

$5,287+17.0%

Admin fee / account holder

$7,265

$11,765-38.2%

$9,324-22.1%

$10,133-28.3%

WEST INSURANCE AGENCY EMPLOYEES PROFIT SHARING/401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WEST INSURANCE AGENCY EMPLOYEES PROFIT SHARING/401(K) 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