Retirement plan

SCHOENFELD INSURANCE ASSOCIATES, INC. PROFIT SHARING PLAN AND TRUST AND 401(K) PLAN

Name: SCHOENFELD INSURANCE ASSOCIATES, INC. - SCHOENFELD INSURANCE ASSOCIATES, INC. PROFIT SHARING PLAN AND TRUST AND 401(K) PLAN (2023) Form 5500
Creator: SCHOENFELD INSURANCE ASSOCIATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCHOENFELD INSURANCE ASSOCIATES, INC. PROFIT SHARING PLAN AND TRUST AND 401(K) PLAN, SCHOENFELD INSURANCE ASSOCIATES, INC.

SCHOENFELD INSURANCE ASSOCIATES, INC.EIN 52-0799825Plan #003PY 2023

6225 SMITH AVENUE - BALTIMORE, MD 21209410-602-2000schoenfeldins.comLinkedIn51-200 employeesinsurance

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$13.1M

+15.3% from 2022

Total participants

0.0% from 2022

Average account balance

$267,566

+15.3% from 2022

Annual return

20.66%

+41.39 pp from 2022

Benchmarks

See 7,176 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,176 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.79M

Not enough data

1 years with asset history on file

Average account balance

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

$281K

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.

132.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$416K

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

+9.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$58792

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 codes2E2F2H2J2T3D

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$1.0M

$26578 / participant

Other / not subdivided$1M100.0%

% of EOY assets

7.906%

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

$267,566

$125,797+112.7%

$170,043+57.4%

$75,173+255.9%

Participation rate

100.0%

83.6%+16.4pp

87.0%+13.0pp

67.2%+32.8pp

Annual return

20.66%

27.20%-6.5pp

53.40%-32.7pp

160.72%-140.1pp

Employer contribution / active EE

$3,065

$4,616-33.6%

$6,790-54.9%

$2,671+14.7%

Participant deferral / active EE

$6,725

$6,838-1.7%

$10,410-35.4%

$4,126+63.0%

Admin fee / account holder

$21,154

$8,177+158.7%

$12,824+65.0%

$5,651+274.4%

SCHOENFELD INSURANCE ASSOCIATES, INC. PROFIT SHARING PLAN AND TRUST AND 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCHOENFELD INSURANCE ASSOCIATES, INC. PROFIT SHARING PLAN AND TRUST AND 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