Retirement plan

INSURANCE AGENCY OF MID-AMERICA INC. 401K PROFIT SHARING PLAN

Name: INSURANCE AGENCY OF MID-AMERICA INC - INSURANCE AGENCY OF MID-AMERICA INC. 401K PROFIT SHARING PLAN (2016) Form 5500
Creator: INSURANCE AGENCY OF MID-AMERICA INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INSURANCE AGENCY OF MID-AMERICA INC. 401K PROFIT SHARING PLAN, INSURANCE AGENCY OF MID-AMERICA INC

INSURANCE AGENCY OF MID-AMERICA INCEIN 73-1221044Plan #001PY 2016

PO BOX 890300 - OKLAHOMA CITY, OK 73189405-691-0016

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.8M

+3.8% from 2015

Total participants

+14.3% from 2015

Average account balance

$73,022

-9.2% from 2015

Annual return

5.89%

+7.62 pp from 2015

Benchmarks

See 30,342 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort30,342 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.47M

Not enough data

1 years with asset history on file

Average account balance

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

$179K

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.

119.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$211K

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

+20.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4141

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 codes3D2E2J2G

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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$234K

$10617 / participant

Other / not subdivided$234K100.0%

% of EOY assets

13.328%

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

$73,022

$153,769-52.5%

$133,975-45.5%

$273,972-73.3%

Participation rate

100.0%

88.4%+11.6pp

87.1%+12.9pp

83.0%+17.0pp

Annual return

5.89%

36.51%-30.6pp

29.29%-23.4pp

41.46%-35.6pp

Employer contribution / active EE

$6,121

$6,029+1.5%

$5,211+17.5%

$4,869+25.7%

Participant deferral / active EE

$2,888

$6,958-58.5%

$6,282-54.0%

$5,287-45.4%

Admin fee / account holder

$9,733

$11,765-17.3%

$9,324+4.4%

$10,133-3.9%

INSURANCE AGENCY OF MID-AMERICA INC. 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INSURANCE AGENCY OF MID-AMERICA INC. 401K 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