Retirement plan

HIGH STREET INSURANCE PARTNERS 401(K) PLAN

Name: HIGH STREET INSURANCE PARTNERS, INC. - HIGH STREET INSURANCE PARTNERS 401(K) PLAN (2022) Form 5500
Creator: HIGH STREET INSURANCE PARTNERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HIGH STREET INSURANCE PARTNERS 401(K) PLAN, HIGH STREET INSURANCE PARTNERS, INC.

HIGH STREET INSURANCE PARTNERS, INC.EIN 83-0860475Plan #001PY 2022

601 FIFTH STREET NW, SUITE 500 - GRAND RAPIDS, MI 49504616-465-2181

Prospect flagsLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$48.4M

No prior year

Total participants

1,135

No prior year

Average account balance

$54,862

No prior year

Annual return

600.72%

No prior year

Benchmarks

See 565 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort565 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$147.52M

Not enough data

1 years with asset history on file

Average account balance

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

$72K

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.

2,053

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.

79.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$17.45M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+25.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$204

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 4 by compensation

Provider	Service type	Compensation
THE ANGELL PENSION GROUP, INC.1+ years Filed as: THE ANGELL PENSION GROUP INC Service code 13 88 BOYD AVENUE · EAST PROVIDENCE, RI 02914	Contract Administrator	$135,613
GREAT-WEST LIFE & ANNUITY INSURANCE1+ years Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$47,963
GREAT-WEST LIFE & ANNUITY INSURANCE1+ years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$4,917
FIDUCIENT ADVISORS LLC1+ years Service code 27 500 QWEST MADISON STREET · CHICAGO, IL 60661	Advisory (Plan)	$672

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$54K

$52 / participant

Investment mgmt$54K100.0%

% of EOY assets

0.111%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$54,862

$95,918-42.8%

$151,645-63.8%

$77,906-29.6%

Participation rate

75.6%

88.7%-13.2pp

87.5%-11.9pp

73.7%+1.9pp

Annual return

600.72%

-5.50%+606.2pp

3.34%+597.4pp

12.16%+588.6pp

Employer contribution / active EE

$1,909

$4,330-55.9%

$6,165-69.0%

$2,846-32.9%

Participant deferral / active EE

$3,752

$7,508-50.0%

$8,363-55.1%

$4,805-21.9%

Admin fee / account holder

$61

$93-34.7%

$11,614-99.5%

$133-54.1%

Provider

Service type

Compensation

THE ANGELL PENSION GROUP, INC.1+ years

Filed as: THE ANGELL PENSION GROUP INC

Service code 13

88 BOYD AVENUE · EAST PROVIDENCE, RI 02914

Contract Administrator

$135,613

GREAT-WEST LIFE & ANNUITY INSURANCE1+ years

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$47,963

GREAT-WEST LIFE & ANNUITY INSURANCE1+ years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$4,917

FIDUCIENT ADVISORS LLC1+ years

Service code 27

500 QWEST MADISON STREET · CHICAGO, IL 60661

Advisory (Plan)

$672

HIGH STREET INSURANCE PARTNERS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HIGH STREET INSURANCE PARTNERS 401(K) 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