Retirement plan

KEY AGENCY, INC. 401(K) PROFIT SHARING PLAN

Name: KEY AGENCY, INC. - KEY AGENCY, INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: KEY AGENCY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KEY AGENCY, INC. 401(K) PROFIT SHARING PLAN, KEY AGENCY, INC.

KEY AGENCY, INC.EIN 59-1279261Plan #001PY 2023

1201 SOUTH MCCALL ROAD - ENGLEWOOD, FL 342234232941-474-9511keyagency.netLinkedIn1-10 employees

Prospect flagsLow returnsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$5.3M

+4.0% from 2022

Total participants

+13.7% from 2022

Average account balance

$91,139

-8.6% from 2022

Annual return

0.89%

+14.17 pp from 2022

Benchmarks

See 7,176 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,176 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.39M

Not enough data

1 years with asset history on file

Average account balance

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

$100K

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.

114.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$270K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+4.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8934

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 codes2E2G2J2R2T3D

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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$54K

$1093 / participant

Other / not subdivided$54K100.0%

% of EOY assets

1.014%

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

$91,139

$125,797-27.6%

$170,043-46.4%

$75,173+21.2%

Participation rate

100.0%

83.6%+16.4pp

87.0%+13.0pp

67.2%+32.8pp

Annual return

0.89%

27.20%-26.3pp

53.40%-52.5pp

160.72%-159.8pp

Employer contribution / active EE

$1,995

$4,616-56.8%

$6,790-70.6%

$2,671-25.3%

Participant deferral / active EE

$2,300

$6,838-66.4%

$10,410-77.9%

$4,126-44.3%

Admin fee / account holder

$924

$8,177-88.7%

$12,824-92.8%

$5,651-83.7%

KEY AGENCY, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KEY AGENCY, INC. 401(K) PROFIT SHARING 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