Retirement plan

SNIPES INSURANCE SERVICE, INC. 401(K) PLAN

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

SNIPES INSURANCE SERVICE, INC.EIN 56-1075260Plan #001PY 2024

105 N. WILSON AVENUE - DUNN, NC 28334910-892-2121LinkedIn11-50 employeesinsurance

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.3M

+22.8% from 2023

Total participants

+6.5% from 2023

Average account balance

$104,878

+6.9% from 2023

Annual return

16.59%

-1.03 pp from 2023

Benchmarks

See 37,087 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,087 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.25M

Not enough data

1 years with asset history on file

Average account balance

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

$105K

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.

147.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$232K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+16.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2835

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 codes2E2F2G2J2T3D

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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$88K

$4185 / participant

Other / not subdivided$88K100.0%

% of EOY assets

2.703%

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

$104,878

$201,372-47.9%

$184,260-43.1%

$145,884-28.1%

Participation rate

90.5%

87.5%+3.0pp

86.8%+3.7pp

80.3%+10.2pp

Annual return

16.59%

29.04%-12.5pp

28.84%-12.3pp

551.85%-535.3pp

Employer contribution / active EE

$4,295

$7,024-38.9%

$6,427-33.2%

$4,662-7.9%

Participant deferral / active EE

$6,756

$9,808-31.1%

$9,133-26.0%

$6,690+1.0%

Admin fee / account holder

$2,835

$16,362-82.7%

$13,898-79.6%

$13,392-78.8%

SNIPES INSURANCE SERVICE, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SNIPES INSURANCE SERVICE, INC. 401(K) 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