Retirement plan

SMITH, SAWYER, AND SMITH 401(K) PROFIT SHARING RETIREMENT PLAN

Name: THE SMITH SAWYER SMITH AGENCY, LLC - SMITH, SAWYER, AND SMITH 401(K) PROFIT SHARING RETIREMENT PLAN (2019) Form 5500
Creator: THE SMITH SAWYER SMITH AGENCY, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SMITH, SAWYER, AND SMITH 401(K) PROFIT SHARING RETIREMENT PLAN, THE SMITH SAWYER SMITH AGENCY, LLC

THE SMITH SAWYER SMITH AGENCY, LLCEIN 82-2689207Plan #002PY 2019

124 E 8TH STREET - ROCHESTER, IN 46975574-223-2166smithsawyerins.comLinkedIn11-50 employeesinsurance

Prospect flagsHigh feesLow participant contributionLow fidelity bond

How to read this page

Total assets (EOY)

$3.5M

+22.3% from 2018

Total participants

+5.6% from 2018

Average account balance

$204,616

+15.1% from 2018

Annual return

22.06%

+27.32 pp from 2018

Benchmarks

See 31,989 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort31,989 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.83M

Not enough data

1 years with asset history on file

Average account balance

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

$166K

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.

92.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$120K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+12.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2053

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 codes2E2F2G2J2T3D

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.
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.)
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

$48K

$2796 / participant

Other / not subdivided$48K100.0%

% of EOY assets

1.366%

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

$204,616

$184,000+11.2%

$162,185+26.2%

$152,909+33.8%

Participation rate

88.2%

88.5%-0.3pp

87.6%+0.7pp

82.5%+5.8pp

Annual return

22.06%

150.80%-128.7pp

115.61%-93.5pp

345.46%-323.4pp

Employer contribution / active EE

$2,339

$6,370-63.3%

$5,613-58.3%

$4,764-50.9%

Participant deferral / active EE

$852

$8,033-89.4%

$7,297-88.3%

$5,851-85.4%

Admin fee / account holder

$2,796

$13,124-78.7%

$10,844-74.2%

$11,601-75.9%

SMITH, SAWYER, AND SMITH 401(K) PROFIT SHARING RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SMITH, SAWYER, AND SMITH 401(K) PROFIT SHARING RETIREMENT 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