Retirement plan

JEFF HOFFER STATE FARM 401(K) PLAN

Name: JEFF HOFFER STATE FARM INSURANCE - JEFF HOFFER STATE FARM 401(K) PLAN (2023) Form 5500
Creator: JEFF HOFFER STATE FARM INSURANCE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, JEFF HOFFER STATE FARM 401(K) PLAN, JEFF HOFFER STATE FARM INSURANCE

JEFF HOFFER STATE FARM INSURANCEEIN 46-1479182Plan #001PY 2023

1500 BEVILLE RD, SUITE 607 - DAYTONA BEACH, FL 32114386-323-7844jeffhoffer.comLinkedIn11-50 employeesinsurance

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$248K

+44.5% from 2022

Total participants

+33.3% from 2022

Average account balance

$82,532

+44.5% from 2022

Annual return

22.34%

+37.42 pp from 2022

Benchmarks

See 36,165 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,165 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$336K

Not enough data

1 years with asset history on file

Average account balance

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

$84K

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

$42K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+18.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E3D2G2J2F2T3B

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

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

$180

$45 / participant

Other / not subdivided$180100.0%

% of EOY assets

0.073%

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

$82,532

$185,883-55.6%

$170,043-51.5%

$139,466-40.8%

Participation rate

75.0%

87.8%-12.8pp

87.0%-12.0pp

80.3%-5.3pp

Annual return

22.34%

60.54%-38.2pp

53.40%-31.1pp

373.66%-351.3pp

Employer contribution / active EE

$1,774

$7,596-76.6%

$6,790-73.9%

$4,754-62.7%

Participant deferral / active EE

$7,721

$11,626-33.6%

$10,410-25.8%

$6,712+15.0%

Admin fee / account holder

$60

$15,393-99.6%

$12,824-99.5%

$11,409-99.5%

JEFF HOFFER STATE FARM 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

JEFF HOFFER STATE FARM 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