Retirement plan

TIS INSURANCE SERVICES, INC. 401(K) PROFIT SHARING

Name: TIS INSURANCE SERVICES, INC. - TIS INSURANCE SERVICES, INC. 401(K) PROFIT SHARING (2024) Form 5500
Creator: TIS INSURANCE SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TIS INSURANCE SERVICES, INC. 401(K) PROFIT SHARING, TIS INSURANCE SERVICES, INC.

TIS INSURANCE SERVICES, INC.EIN 62-0426847Plan #001PY 2024

1900 WINSTON RD, SUITE 100 - KNOXVILLE, TN 37919865-691-4847tisins.comLinkedIn51-200 employeesinsurance

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$21.3M

+9.7% from 2023

Total participants

130

+2.4% from 2023

Average account balance

$185,546

+12.5% from 2023

Annual return

14.10%

-0.17 pp from 2023

Benchmarks

See 7,161 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,161 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$21.34M

Not enough data

1 years with asset history on file

Average account balance

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

$186K

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.

115

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.

83.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$906K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+14.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$902

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 3 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.5 years Filed as: WELLS FARGO ADVISORS LLC Service code 27 401 S TRYON ST 11TH FL D1050-111 · CHARLOTTE, NC 28081	Advisory (Plan)	$20,836
TENNESSEE PENSION ADMINISTRATORS10+ years Service code 13 · EIN 62-1757444	Contract Administrator	$11,822
AMERICAN FUNDS6 years Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI Service code 64 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$1,456

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$104K

$1153 / participant

Investment mgmt$96K92.7%
Contract admin$8K7.3%

% of EOY assets

0.486%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: PUGH & COMPANY
Auditor EIN: 621142155
Audit fees: (not subdivided)
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$185,546

$138,385+34.1%

$184,200+0.7%

$80,874+129.4%

Participation rate

83.3%

83.9%-0.5pp

86.8%-3.5pp

67.6%+15.7pp

Annual return

14.10%

20.02%-5.9pp

28.80%-14.7pp

35.62%-21.5pp

Employer contribution / active EE

$3,056

$4,849-37.0%

$6,424-52.4%

$2,756+10.9%

Participant deferral / active EE

$7,005

$7,073-1.0%

$9,132-23.3%

$4,297+63.0%

Admin fee / account holder

$902

$10,483-91.4%

$13,907-93.5%

$6,935-87.0%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.5 years

Filed as: WELLS FARGO ADVISORS LLC

Service code 27

401 S TRYON ST 11TH FL D1050-111 · CHARLOTTE, NC 28081

Advisory (Plan)

$20,836

TENNESSEE PENSION ADMINISTRATORS10+ years

Service code 13 · EIN 62-1757444

Contract Administrator

$11,822

AMERICAN FUNDS6 years

Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI

Service code 64

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$1,456

TIS INSURANCE SERVICES, INC. 401(K) PROFIT SHARING

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TIS INSURANCE SERVICES, INC. 401(K) PROFIT SHARING

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