Retirement plan

WATSON INSURANCE AGENCY, INC. PROFIT SHARING PLAN AND TRUST

Name: WATSON INSURANCE AGENCY, INC - WATSON INSURANCE AGENCY, INC. PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: WATSON INSURANCE AGENCY, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WATSON INSURANCE AGENCY, INC. PROFIT SHARING PLAN AND TRUST, WATSON INSURANCE AGENCY, INC

WATSON INSURANCE AGENCY, INCEIN 57-0725873Plan #001PY 2024

P O BOX 249 - CHESNEE, SC 29323864-461-2204watsonagency.netLinkedIn11-50 employeesinsurance

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$2.7M

+7.3% from 2023

Total participants

-11.8% from 2023

Average account balance

-100.0% from 2023

Annual return

6.85%

+3.99 pp from 2023

Benchmarks

See 37,167 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,167 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.61M

Not enough data

1 years with asset history on file

Average account balance

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

$108K

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

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$114K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+5.77%

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

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 codes2E2F2G2J2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.

Opportunity flags

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$101K

$6711 / participant

Other / not subdivided$101K100.0%

% of EOY assets

3.758%

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

$201,264-100.0%

$184,185-100.0%

$145,978-100.0%

Participation rate

0.0%

87.5%-87.5pp

86.8%-86.8pp

80.3%-80.3pp

Annual return

6.85%

29.00%-22.2pp

28.81%-22.0pp

550.52%-543.7pp

Employer contribution / active EE

$4,000

$7,021-43.0%

$6,426-37.7%

$4,662-14.2%

Participant deferral / active EE

$3,513

$9,806-64.2%

$9,132-61.5%

$6,690-47.5%

Admin fee / account holder

$16,376-100.0%

$13,909-100.0%

$13,400-100.0%

WATSON INSURANCE AGENCY, INC. PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WATSON INSURANCE AGENCY, INC. PROFIT SHARING PLAN AND TRUST

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