Retirement plan

BRAY & OAKLEY 401(K) PROFIT SHARING PLAN

Name: BRAY & OAKLEY INSURANCE AGENCY, INC. - BRAY & OAKLEY 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: BRAY & OAKLEY INSURANCE AGENCY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BRAY & OAKLEY 401(K) PROFIT SHARING PLAN, BRAY & OAKLEY INSURANCE AGENCY, INC.

BRAY & OAKLEY INSURANCE AGENCY, INC.EIN 55-0116680Plan #002PY 2023

213 MAIN STREET, P.O. BOX 386 - LOGAN, WV 25601304-752-6850brayandoakley.comLinkedIn11-50 employeesinsurance

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$1.9M

+28.9% from 2022

Total participants

+20.8% from 2022

Average account balance

$66,129

+6.7% from 2022

Annual return

18.68%

+36.35 pp from 2022

Benchmarks

See 36,154 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,154 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.23M

Not enough data

1 years with asset history on file

Average account balance

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

$86K

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.

113.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$178K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+9.34%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2420

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 codes2E2F2G2J2R3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

$4K

$184 / participant

Other / not subdivided$4K100.0%

% of EOY assets

0.231%

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

$66,129

$185,905-64.4%

$170,057-61.1%

$139,487-52.6%

Participation rate

100.0%

87.8%+12.2pp

87.0%+13.0pp

80.3%+19.7pp

Annual return

18.68%

60.56%-41.9pp

53.42%-34.7pp

373.84%-355.2pp

Employer contribution / active EE

$1,654

$7,597-78.2%

$6,790-75.6%

$4,755-65.2%

Participant deferral / active EE

$4,845

$11,627-58.3%

$10,411-53.5%

$6,713-27.8%

Admin fee / account holder

$153

$15,397-99.0%

$12,826-98.8%

$11,407-98.7%

BRAY & OAKLEY 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BRAY & OAKLEY 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