Retirement plan

JACK HUTCHISON INSURANCE AGENCY, INC. 401(K) PROFIT SHARING PLAN

Name: JACK HUTCHISON INSURANCE AGENCY, INC. - JACK HUTCHISON INSURANCE AGENCY, INC. 401(K) PROFIT SHARING PLAN (2021) Form 5500
Creator: JACK HUTCHISON INSURANCE AGENCY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, JACK HUTCHISON INSURANCE AGENCY, INC. 401(K) PROFIT SHARING PLAN, JACK HUTCHISON INSURANCE AGENCY, INC.

JACK HUTCHISON INSURANCE AGENCY, INC.EIN 52-2079875Plan #001PY 2021

8638 VETERANS HWY., SUITE 200 - MILLERSVILLE, MD 21108410-647-9540jhiagency.comLinkedIn1-10 employeesinsurance

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$494K

+23.3% from 2020

Total participants

+14.3% from 2020

Average account balance

$98,703

+23.3% from 2020

Annual return

11.50%

-0.74 pp from 2020

Benchmarks

See 33,473 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort33,473 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$853K

Not enough data

1 years with asset history on file

Average account balance

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

$171K

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

$75K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+14.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9274

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 codes2E2F2J2T3D

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).
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

$1K

$235 / participant

Other / not subdivided$1K100.0%

% of EOY assets

0.238%

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

$98,703

$209,847-53.0%

$189,520-47.9%

$167,518-41.1%

Participation rate

40.0%

88.7%-48.7pp

87.8%-47.8pp

82.1%-42.1pp

Annual return

11.50%

748.45%-736.9pp

555.25%-543.7pp

478.71%-467.2pp

Employer contribution / active EE

$3,095

$6,913-55.2%

$6,161-49.8%

$4,838-36.0%

Participant deferral / active EE

$6,586

$8,934-26.3%

$8,220-19.9%

$6,342+3.9%

Admin fee / account holder

$235

$14,295-98.4%

$12,046-98.0%

$12,312-98.1%

JACK HUTCHISON INSURANCE AGENCY, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

JACK HUTCHISON INSURANCE AGENCY, INC. 401(K) PROFIT SHARING 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