Retirement plan

EMPLOYEES' 401(K) PLAN OF NORTH CAROLINA FARM BUREAU MUTUAL INSURANCE COMPANY, INC.

Name: NORTH CAROLINA FARM BUREAU MUTUAL INSURANCE COMPANY - EMPLOYEES' 401(K) PLAN OF NORTH CAROLINA FARM BUREAU MUTUAL INSURANCE COMPANY, INC. (2018) Form 5500
Creator: NORTH CAROLINA FARM BUREAU MUTUAL INSURANCE COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPLOYEES' 401(K) PLAN OF NORTH CAROLINA FARM BUREAU MUTUAL INSURANCE COMPANY, INC., NORTH CAROLINA FARM BUREAU MUTUAL INSURANCE COMPANY

NORTH CAROLINA FARM BUREAU MUTUAL INSURANCE COMPANYEIN 56-0586973Plan #002PY 2018

P. O. BOX 27766 - RALEIGH, NC 27611919-782-1705ncfbins.comLinkedIn1001-5000 employeesinsurance

Other plans on this EIN

1 filing

#001Retirement-$189.6M assets

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$33.9M

-5.9% from 2016

Total participants

1,348

-3.3% from 2016

Average account balance

$52,064

-8.5% from 2016

Annual return

-3.89%

-7.23 pp from 2016

Benchmarks

See 547 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort547 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$53.53M

Not enough data

1 years with asset history on file

Average account balance

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

$60K

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.

897

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.

56.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.71M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+14.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$81

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 1 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.4+ years Service code 15 · EIN 94-1347393	Recordkeeping	$100,671

Plan features & details

Pension benefit codes2E2F2H2J2T3D3F

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$103K

$79 / participant

Other / not subdivided$103K100.0%

% of EOY assets

0.303%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: A. T. ALLEN
Auditor EIN: 560119050
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,064

$82,546-36.9%

$140,019-62.8%

$75,289-30.8%

Participation rate

46.6%

88.4%-41.8pp

87.5%-40.9pp

72.4%-25.8pp

Annual return

-3.89%

-0.36%-3.5pp

651.19%-655.1pp

-0.04%-3.9pp

Employer contribution / active EE

$3,856-100.0%

$5,605-100.0%

$2,405-100.0%

Participant deferral / active EE

$1,900

$5,731-66.9%

$6,927-72.6%

$3,739-49.2%

Admin fee / account holder

$158

$86+83.9%

$10,705-98.5%

$102+54.2%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.4+ years

Service code 15 · EIN 94-1347393

Recordkeeping

$100,671

EMPLOYEES' 401(K) PLAN OF NORTH CAROLINA FARM BUREAU MUTUAL INSURANCE COMPANY, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPLOYEES' 401(K) PLAN OF NORTH CAROLINA FARM BUREAU MUTUAL INSURANCE COMPANY, INC.

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