Retirement plan

MITCH LUNN INSURANCE AGENCY INC 401K PLAN

Name: MITCH LUNN INSURANCE AGENCY INC - MITCH LUNN INSURANCE AGENCY INC 401K PLAN (2022) Form 5500
Creator: MITCH LUNN INSURANCE AGENCY INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MITCH LUNN INSURANCE AGENCY INC 401K PLAN, MITCH LUNN INSURANCE AGENCY INC

MITCH LUNN INSURANCE AGENCY INCEIN 46-1108327Plan #001PY 2022

616 N 15TH ST - FORT DODGE, IA 50501515-576-4171

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$85K

+17.5% from 2021

Total participants

0.0% from 2021

Average account balance

$28,436

+17.5% from 2021

Annual return

-20.06%

-42.25 pp from 2021

Benchmarks

See 35,209 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort35,209 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$260K

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$33K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+18.04%

Not enough data

1 years with return on file

Admin fee / account holder

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

$454

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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$630

$210 / participant

Other / not subdivided$630100.0%

% of EOY assets

0.738%

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

$28,436

$167,522-83.0%

$151,639-81.2%

$134,532-78.9%

Participation rate

66.7%

88.4%-21.7pp

87.5%-20.8pp

81.2%-14.6pp

Annual return

-20.06%

7.81%-27.9pp

3.34%-23.4pp

418.27%-438.3pp

Employer contribution / active EE

$1,568

$6,828-77.0%

$6,165-74.6%

$4,741-66.9%

Participant deferral / active EE

$7,518

$8,986-16.3%

$8,363-10.1%

$6,401+17.5%

Admin fee / account holder

$210

$13,780-98.5%

$11,613-98.2%

$11,429-98.2%

MITCH LUNN INSURANCE AGENCY INC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MITCH LUNN INSURANCE AGENCY INC 401K 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