Retirement plan

KELLY & ASSOCIATES INSURANCE GROUP, INC. 401K PLAN

Name: KELLY & ASSOCIATES INSURANCE GROUP, INC. - KELLY & ASSOCIATES INSURANCE GROUP, INC. 401K PLAN (2024) Form 5500
Creator: KELLY & ASSOCIATES INSURANCE GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KELLY & ASSOCIATES INSURANCE GROUP, INC. 401K PLAN, KELLY & ASSOCIATES INSURANCE GROUP, INC.

KELLY & ASSOCIATES INSURANCE GROUP, INC.EIN 52-1066374Plan #001PY 2024

1 KELLY WAY - SPARKS, MD 21152410-527-3400LinkedIn1-10 employeesinsurance

Prospect flagsLow employer contributionFailed to transmit contributions

Top hat statement on fileNQDC

Filed December 9, 2024 (most recent of 6 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

1 Kelly Way

Sparks, MD 21152

Email— Sign in and upgrade to view Phone— Sign in and upgrade to view

Plans declared (1)

Plan name not on file1 emp

Open the filing PDF

How to read this page

Total assets (EOY)

$68.2M

+16.4% from 2023

Total participants

630

+1.9% from 2023

Average account balance

$125,994

+15.4% from 2023

Annual return

13.53%

-4.50 pp from 2023

Benchmarks

See 1,547 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,547 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$68.16M

Not enough data

1 years with asset history on file

Average account balance

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

$126K

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.

541

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.

84.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.96M

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

+13.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$262

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 8 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290	Contract Administrator	$109,533
COLUMBIA BENEFITS CONSULTANTS, INC.10+ years Filed as: COLUMBIA BENEFITS CONSULTANTS Service code 13	Contract Administrator	$17,230
LPL FINANCIAL9 years Filed as: LPL FINANCIAL LLC-RPCP Service code 27 · EIN 04-3046611 9841 BROKEN LAND PARKWAY · COLUMBIA, MD 21046	Advisory (Plan)	$13,975
ELLIN & TUCKER, CHARTERED1 year Filed as: ELLIN & TUCKER Service code 10 · EIN 52-0959934 400 E PRATT ST · BALTIMORE, MD 21202	Accounting	$9,766
NEWEDGE ADVISORS LLC1 year Filed as: NEW EDGE ADVISORS Service code 27 · EIN 46-0854203	Advisory (Plan)	$8,189
COLUMBIA BENEFITS CONSULTANTS, INC.9 years Filed as: COLUMBIA BENEFITS CONSULTANTS INC Service code 13 · EIN 52-1904735 9841 BROKEN LAND PARKWAY · COLUMBIA, MD 21046	Contract Administrator	$250
KATZABOSCH9 years Service code 10	Accounting	$0
LPL FINANCIAL4 years Filed as: LPL FINANCIAL LLC - RPCP Service code 27	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$142K

$254 / participant

Investment mgmt$22K15.8%
Contract admin$110K77.3%
Other / not subdivided$10K6.9%

% of EOY assets

0.208%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ELLIN & TUCKER
Auditor EIN: 520959934
Audit fees: $9,766
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$125,994

$129,227-2.5%

$184,260-31.6%

$77,736+62.1%

Participation rate

84.1%

87.4%-3.3pp

86.8%-2.7pp

70.6%+13.5pp

Annual return

13.53%

33.24%-19.7pp

28.84%-15.3pp

31.26%-17.7pp

Employer contribution / active EE

$1,570

$4,412-64.4%

$6,427-75.6%

$2,728-42.4%

Participant deferral / active EE

$5,508

$7,307-24.6%

$9,133-39.7%

$4,651+18.4%

Admin fee / account holder

$262

$256+2.4%

$13,898-98.1%

$433-39.5%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY10+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$109,533

COLUMBIA BENEFITS CONSULTANTS, INC.10+ years

Filed as: COLUMBIA BENEFITS CONSULTANTS

Service code 13

Contract Administrator

$17,230

LPL FINANCIAL9 years

Filed as: LPL FINANCIAL LLC-RPCP

Service code 27 · EIN 04-3046611

9841 BROKEN LAND PARKWAY · COLUMBIA, MD 21046

Advisory (Plan)

$13,975

ELLIN & TUCKER, CHARTERED1 year

Filed as: ELLIN & TUCKER

Service code 10 · EIN 52-0959934

400 E PRATT ST · BALTIMORE, MD 21202

Accounting

$9,766

NEWEDGE ADVISORS LLC1 year

Filed as: NEW EDGE ADVISORS

Service code 27 · EIN 46-0854203

Advisory (Plan)

$8,189

COLUMBIA BENEFITS CONSULTANTS, INC.9 years

Filed as: COLUMBIA BENEFITS CONSULTANTS INC

Service code 13 · EIN 52-1904735

9841 BROKEN LAND PARKWAY · COLUMBIA, MD 21046

Contract Administrator

$250

KATZABOSCH9 years

Service code 10

Accounting

LPL FINANCIAL4 years

Filed as: LPL FINANCIAL LLC - RPCP

Service code 27

Advisory (Plan)

KELLY & ASSOCIATES INSURANCE GROUP, INC. 401K PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KELLY & ASSOCIATES INSURANCE GROUP, INC. 401K PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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