Retirement plan

SAGICOR LIFE INSURANCE COMPANY RETIREMENT SAVINGS PLAN

Name: SAGICOR LIFE INSURANCE COMPANY - SAGICOR LIFE INSURANCE COMPANY RETIREMENT SAVINGS PLAN (2022) Form 5500
Creator: SAGICOR LIFE INSURANCE COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SAGICOR LIFE INSURANCE COMPANY RETIREMENT SAVINGS PLAN, SAGICOR LIFE INSURANCE COMPANY

SAGICOR LIFE INSURANCE COMPANYEIN 74-1915841Plan #001PY 2022

8660 E HARTFORD DR, SUITE 200 - SCOTTSDALE, AZ 852552583480-425-5100sagicor.comLinkedIn51-200 employeesinsurance

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$18.9M

-31.6% from 2021

Total participants

195

-2.0% from 2021

Average account balance

$104,848

-26.6% from 2021

Annual return

-17.92%

-32.90 pp from 2021

Benchmarks

See 2,163 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,163 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$23.12M

Not enough data

1 years with asset history on file

Average account balance

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

$128K

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.

180

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.

90.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.87M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+14.73%

Not enough data

1 years with return on file

Admin fee / account holder

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

$994

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

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

Service providers

Top 5 by compensation

Provider	Service type	Compensation
KIRKE4 years Service code 99 8520 N 52ND ST · PARADISE VALLEY, AZ 85253	Other Fees	$52,687
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 · EIN 84-0467907 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$45,456
PENSION ASSURANCE LLP8+ years Filed as: KB PENSION SERVICES, INC. Service code 13 · EIN 65-0721164 9423 TOWN CENTER PARKWAY · SARASOTA, FL 34202	Contract Administrator	$15,184
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD, CO 80111	Investment Management	$10,702
HENRY & HORNE, LLP1 year Service code 10 2055 E WARNER RD · TEMPE, AZ 85284	Accounting	$9,000

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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

Expense breakdown

Schedule H Part II

Admin total

$196K

$1318 / participant

Investment mgmt$66K33.8%
Contract admin$2K1.1%
Other / not subdivided$128K65.1%

% of EOY assets

1.041%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 390859910
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$104,848

$102,661+2.1%

$151,639-30.9%

$66,938+56.6%

Participation rate

89.9%

85.5%+4.4pp

87.5%+2.4pp

69.8%+20.1pp

Annual return

-17.92%

-10.81%-7.1pp

3.34%-21.3pp

1.58%-19.5pp

Employer contribution / active EE

$3,701

$4,184-11.6%

$6,165-40.0%

$2,545+45.4%

Participant deferral / active EE

$9,064

$6,645+36.4%

$8,363+8.4%

$4,238+113.9%

Admin fee / account holder

$1,091

$630+73.1%

$11,613-90.6%

$594+83.9%

Provider

Service type

Compensation

KIRKE4 years

Service code 99

8520 N 52ND ST · PARADISE VALLEY, AZ 85253

Other Fees

$52,687

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64 · EIN 84-0467907

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$45,456

PENSION ASSURANCE LLP8+ years

Filed as: KB PENSION SERVICES, INC.

Service code 13 · EIN 65-0721164

9423 TOWN CENTER PARKWAY · SARASOTA, FL 34202

Contract Administrator

$15,184

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD, CO 80111

Investment Management

$10,702

HENRY & HORNE, LLP1 year

Service code 10

2055 E WARNER RD · TEMPE, AZ 85284

Accounting

$9,000

SAGICOR LIFE INSURANCE COMPANY RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SAGICOR LIFE INSURANCE COMPANY RETIREMENT 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