Retirement plan

SECURITY MUTUAL INSURANCE ASSOCIATION 401(K) RETIREMENT PLAN

Name: SECURITY MUTUAL INSURANCE ASSOCIATION - SECURITY MUTUAL INSURANCE ASSOCIATION 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: SECURITY MUTUAL INSURANCE ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SECURITY MUTUAL INSURANCE ASSOCIATION 401(K) RETIREMENT PLAN, SECURITY MUTUAL INSURANCE ASSOCIATION

SECURITY MUTUAL INSURANCE ASSOCIATIONEIN 42-0163700Plan #002PY 2022

101 CHERRY STREET - ALLISON, IA 50602319-267-2035

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$496K

-37.3% from 2021

Total participants

-11.1% from 2021

Average account balance

$61,987

-29.5% from 2021

Annual return

-12.42%

-20.17 pp from 2021

Benchmarks

See 35,225 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort35,225 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$831K

Not enough data

1 years with asset history on file

Average account balance

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

$83K

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.

111.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$98K

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

+19.40%

Not enough data

1 years with return on file

Admin fee / account holder

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

$-7

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

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

$258K

$32295 / participant

Other / not subdivided$258K100.0%

% of EOY assets

52.099%

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

$61,987

$167,503-63.0%

$151,627-59.1%

$134,493-53.9%

Participation rate

100.0%

88.4%+11.6pp

87.5%+12.5pp

81.2%+18.8pp

Annual return

-12.42%

7.80%-20.2pp

3.33%-15.8pp

418.01%-430.4pp

Employer contribution / active EE

$3,914

$6,829-42.7%

$6,166-36.5%

$4,740-17.4%

Participant deferral / active EE

$3,792

$8,985-57.8%

$8,363-54.7%

$6,400-40.8%

Admin fee / account holder

$32,295

$13,777+134.4%

$11,612+178.1%

$11,425+182.7%

SECURITY MUTUAL INSURANCE ASSOCIATION 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SECURITY MUTUAL INSURANCE ASSOCIATION 401(K) RETIREMENT 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