Retirement plan

HIGHLANDS INSURANCE EMPLOYEES' RETIREMENT AND SAVINGS PLAN

Name: HIGHLANDS INS. CO. IN RECEIVERSHIP - HIGHLANDS INSURANCE EMPLOYEES' RETIREMENT AND SAVINGS PLAN (2020) Form 5500
Creator: HIGHLANDS INS. CO. IN RECEIVERSHIP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HIGHLANDS INSURANCE EMPLOYEES' RETIREMENT AND SAVINGS PLAN, HIGHLANDS INS. CO. IN RECEIVERSHIP

HIGHLANDS INS. CO. IN RECEIVERSHIPEIN 74-1296673Plan #001PY 2020

300 PHILLIPS BOULEVARD, SUITE 100 - TRENTON, NJ 08618609-896-1921LinkedIn1-10 employeesinsurance

Prospect flagsHigh retiree %Low returnsHigh feesLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$25.3M

+2.8% from 2019

Total participants

122

-8.3% from 2019

Average account balance

$208,904

+11.3% from 2019

Annual return

10.00%

-3.85 pp from 2019

Benchmarks

See 7,209 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,209 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 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.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-0.14%

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

Top 10 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$59,317
LPL FINANCIAL1 year Filed as: LPL FINANCIAL - RP Service code 27 · EIN 04-3046611	Advisory (Plan)	$36,319
AMERICAN CENTURY4 years Service code 52 · EIN 43-0821857	Indirect Investment Fees	$0
AMERICAN FUNDS4 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
INVESCO2 years Service code 52 · EIN 76-0343427	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY4 years Filed as: JP MORGAN Service code 52 · EIN 13-3963293	Indirect Investment Fees	$0
NORTHERN FUNDS4 years Service code 52 · EIN 36-3608252	Indirect Investment Fees	$0
PIONEER4 years Service code 52 · EIN 04-3453709	Indirect Investment Fees	$0
THE VANGUARD GROUP, INC.1 year Filed as: VANGUARD Service code 52 · EIN 23-1999755	Indirect Investment Fees	$0
WELLS FARGO BANK, N.A.4 years Filed as: WELLS FARGO Service code 52 · EIN 41-0449260	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D2S2T

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.
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

5 tripped

OpportunityLow employer contribution
Employer 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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$59K

$1977 / participant

Investment mgmt$58K98.0%
Contract admin$1K2.0%

% of EOY assets

0.235%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: GOLD GERSTEIN GROUP LLC
Auditor EIN: 263584493
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$208,904

$123,793+68.8%

$177,848+17.5%

$79,856+161.6%

Participation rate

96.7%

84.7%+12.0pp

87.7%+8.9pp

69.6%+27.0pp

Annual return

10.00%

22.82%-12.8pp

48.33%-38.3pp

31.71%-21.7pp

Employer contribution / active EE

$4,095-100.0%

$5,919-100.0%

$2,471-100.0%

Participant deferral / active EE

$9,279

$5,956+55.8%

$7,714+20.3%

$3,741+148.1%

Admin fee / account holder

$490

$7,243-93.2%

$12,431-96.1%

$5,306-90.8%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$59,317

LPL FINANCIAL1 year

Filed as: LPL FINANCIAL - RP

Service code 27 · EIN 04-3046611

Advisory (Plan)

$36,319

AMERICAN CENTURY4 years

Service code 52 · EIN 43-0821857

Indirect Investment Fees

AMERICAN FUNDS4 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

INVESCO2 years

Service code 52 · EIN 76-0343427

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY4 years

Filed as: JP MORGAN

Service code 52 · EIN 13-3963293

Indirect Investment Fees

NORTHERN FUNDS4 years

Service code 52 · EIN 36-3608252

Indirect Investment Fees

PIONEER4 years

Service code 52 · EIN 04-3453709

Indirect Investment Fees

THE VANGUARD GROUP, INC.1 year

Filed as: VANGUARD

Service code 52 · EIN 23-1999755

Indirect Investment Fees

WELLS FARGO BANK, N.A.4 years

Filed as: WELLS FARGO

Service code 52 · EIN 41-0449260

Indirect Investment Fees

HIGHLANDS INSURANCE EMPLOYEES' RETIREMENT AND SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HIGHLANDS INSURANCE EMPLOYEES' RETIREMENT AND SAVINGS 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