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 (2024) 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 2024

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)

$287.9M

+14.2% from 2023

Total participants

1,500

+1.1% from 2023

Average account balance

$194,252

+13.5% from 2023

Annual return

15.95%

-5.11 pp from 2023

Benchmarks

See 610 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort610 peers

Snapshot2024

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.3 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$27,828

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

Admin total

$11K

$11 / participant

Other / not subdivided$11K100.0%

% of EOY assets

0.004%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

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

$194,252

$122,695+58.3%

$184,185+5.5%

$199,874-2.8%

Participation rate

98.2%

87.0%+11.3pp

86.8%+11.4pp

72.0%+26.2pp

Annual return

15.95%

143.93%-128.0pp

28.81%-12.9pp

34.28%-18.3pp

Employer contribution / active EE

$10,782

$4,581+135.4%

$6,426+67.8%

$3,036+255.1%

Participant deferral / active EE

$11,869

$7,983+48.7%

$9,132+30.0%

$5,090+133.2%

Admin fee / account holder

$120-93.7%

$13,909-99.9%

$269-97.2%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.3 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$27,828

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