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 (2022) 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 2022

4200 SIX FORKS RD, STE 1400 - RALEIGH, NC 276092681919-831-1870iatinsurancegroup.comLinkedIn501-1000 employeesinsurance

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$210.4M

-1.8% from 2016

Total participants

1,491

-8.6% from 2016

Average account balance

$142,241

+7.7% from 2016

Annual return

-16.18%

-6.47 pp from 2016

Benchmarks

See 565 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort565 peers

Snapshot2022

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

Top 1 by compensation

Provider	Service type	Compensation
STRATEGIC ADVISORS, INC.1 year Service code 27 · EIN 04-2654524	Advisory (Plan)	$7,172

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

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$142,241

$95,918+48.3%

$151,634-6.2%

$77,906+82.6%

Participation rate

98.8%

88.7%+10.1pp

87.5%+11.3pp

73.7%+25.1pp

Annual return

-16.18%

-5.50%-10.7pp

3.32%-19.5pp

12.16%-28.3pp

Employer contribution / active EE

$10,400

$4,330+140.2%

$6,165+68.7%

$2,846+265.4%

Participant deferral / active EE

$10,841

$7,508+44.4%

$8,363+29.6%

$4,805+125.6%

Admin fee / account holder

-$43

$93-146.4%

$11,614-100.4%

$133-132.6%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.1 year

Service code 27 · EIN 04-2654524

Advisory (Plan)

$7,172

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