Retirement plan

IAT INSURANCE GROUP, INC. PROFIT SHARING 401(K) PLAN

Name: IAT INSURANCE GROUP INC. - IAT INSURANCE GROUP, INC. PROFIT SHARING 401(K) PLAN (2020) Form 5500
Creator: IAT INSURANCE GROUP INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IAT INSURANCE GROUP, INC. PROFIT SHARING 401(K) PLAN, IAT INSURANCE GROUP INC.

IAT INSURANCE GROUP INC.EIN 56-1171691Plan #003PY 2020

4200 SIX FORKS RD, STE 1400 - RALEIGH, NC 276092681919-831-8170iatinsurancegroup.comLinkedIn501-1000 employeesinsurance

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$204.5M

-1.8% from 2016

Total participants

1,301

-8.6% from 2016

Average account balance

$157,890

+7.7% from 2016

Annual return

20.71%

-6.47 pp from 2016

Benchmarks

See 1,455 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,455 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$287.88M

Not enough data

1 years with asset history on file

Average account balance

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

$194K

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.

1,482

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.

98.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$23.10M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$23K

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

+15.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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 codes2E2G2J3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Plan-level admin expenses are zero - fees are likely paid at the master-trust level rather than the individual plan.

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: JOHNSON LAMBERT LLP
Auditor EIN: 521446779
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$157,890

$111,608+41.5%

$177,839-11.2%

$73,415+115.1%

Participation rate

99.4%

87.9%+11.5pp

87.7%+11.7pp

72.2%+27.2pp

Annual return

20.71%

18.23%+2.5pp

48.33%-27.6pp

59.30%-38.6pp

Employer contribution / active EE

$9,283

$3,796+144.5%

$5,919+56.8%

$2,234+315.5%

Participant deferral / active EE

$9,545

$6,199+54.0%

$7,714+23.7%

$3,806+150.8%

Admin fee / account holder

-$35

$166-121.3%

$12,432-100.3%

$158-122.3%

IAT INSURANCE GROUP, INC. PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IAT INSURANCE GROUP, INC. PROFIT SHARING 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