Retirement plan

KINGSGATE SAVINGS PLAN

Name: KINGSGATE INSURANCE CENTER, INC. - KINGSGATE SAVINGS PLAN (2020) Form 5500
Creator: KINGSGATE INSURANCE CENTER, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KINGSGATE SAVINGS PLAN, KINGSGATE INSURANCE CENTER, INC.

KINGSGATE INSURANCE CENTER, INC.EIN 42-1387598Plan #001PY 2020

924 CENTRAL AVE - FORT DODGE, IA 505014800515-576-4321kingsgateinsurance.comLinkedIn11-50 employeesinsurance

Prospect flagsHigh feesLow assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$1.1M

+51.1% from 2019

Total participants

+19.4% from 2019

Average account balance

$34,693

+5.3% from 2019

Annual return

26.89%

+7.68 pp from 2019

Benchmarks

See 7,209 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,209 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.12M

Not enough data

1 years with asset history on file

Average account balance

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

$66K

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.

86.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$272K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+15.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12021

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$17K

$510 / participant

Other / not subdivided$17K100.0%

% of EOY assets

1.470%

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

$34,693

$123,793-72.0%

$177,840-80.5%

$79,852-56.6%

Participation rate

87.9%

84.7%+3.2pp

87.7%+0.2pp

69.6%+18.2pp

Annual return

26.89%

22.82%+4.1pp

48.32%-21.4pp

31.72%-4.8pp

Employer contribution / active EE

$1,276

$4,095-68.8%

$5,919-78.4%

$2,471-48.4%

Participant deferral / active EE

$4,701

$5,956-21.1%

$7,714-39.1%

$3,740+25.7%

Admin fee / account holder

$510

$7,243-93.0%

$12,431-95.9%

$5,306-90.4%

KINGSGATE SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KINGSGATE SAVINGS 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