Retirement plan

HANCKEL CITIZENS INSURANCE CORPORATION EMPLOYEE PROFIT SHARING PLAN

Name: HANCKEL CITIZENS INSURANCE CORP. - HANCKEL CITIZENS INSURANCE CORPORATION EMPLOYEE PROFIT SHARING PLAN (2024) Form 5500
Creator: HANCKEL CITIZENS INSURANCE CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HANCKEL CITIZENS INSURANCE CORPORATION EMPLOYEE PROFIT SHARING PLAN, HANCKEL CITIZENS INSURANCE CORP.

HANCKEL CITIZENS INSURANCE CORP.EIN 54-0238360Plan #001PY 2024

218 3RD STREET N.E. - CHARLOTTESVILLE, VA 22902434-296-7191hanckelcitizens.comLinkedIn1-10 employeesinsurance

Prospect flagsHigh feesHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$6.6M

+20.5% from 2023

Total participants

+10.0% from 2023

Average account balance

$600,163

+9.6% from 2023

Annual return

18.17%

+0.00 pp from 2023

Benchmarks

See 37,167 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,167 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.60M

Not enough data

1 years with asset history on file

Average account balance

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

$600K

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

$129K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+18.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2175

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 codes2E3D2G2J2F2T

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$24K

$2175 / participant

Other / not subdivided$24K100.0%

% of EOY assets

0.362%

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

$600,163

$201,264+198.2%

$184,185+225.8%

$145,978+311.1%

Participation rate

100.0%

87.5%+12.5pp

86.8%+13.2pp

80.3%+19.7pp

Annual return

18.17%

29.00%-10.8pp

28.81%-10.6pp

550.52%-532.3pp

Employer contribution / active EE

$8,609

$7,021+22.6%

$6,426+34.0%

$4,662+84.7%

Participant deferral / active EE

$3,130

$9,806-68.1%

$9,132-65.7%

$6,690-53.2%

Admin fee / account holder

$2,175

$16,376-86.7%

$13,909-84.4%

$13,400-83.8%

HANCKEL CITIZENS INSURANCE CORPORATION EMPLOYEE PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HANCKEL CITIZENS INSURANCE CORPORATION EMPLOYEE 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