Retirement plan

MORTON BURDETTE INSURANCE GROUP, LLC 401(K) PLAN

Name: MORTON BURDETTE INSURANCE GROUP, LLC - MORTON BURDETTE INSURANCE GROUP, LLC 401(K) PLAN (2023) Form 5500
Creator: MORTON BURDETTE INSURANCE GROUP, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MORTON BURDETTE INSURANCE GROUP, LLC 401(K) PLAN, MORTON BURDETTE INSURANCE GROUP, LLC

MORTON BURDETTE INSURANCE GROUP, LLCEIN 83-2371441Plan #001PY 2023

109 N CHURCH ST. - RIPLEY, WV 25271304-373-7283

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$141K

+55.6% from 2022

Total participants

+33.3% from 2022

Average account balance

$47,164

+55.6% from 2022

Annual return

22.56%

+45.60 pp from 2022

Benchmarks

See 36,165 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,165 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$203K

Not enough data

1 years with asset history on file

Average account balance

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

$102K

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.

50.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$29K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+11.25%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1488

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$2K

$607 / participant

Other / not subdivided$2K100.0%

% of EOY assets

1.287%

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

$47,164

$185,883-74.6%

$170,043-72.3%

$139,466-66.2%

Participation rate

66.7%

87.8%-21.1pp

87.0%-20.3pp

80.3%-13.7pp

Annual return

22.56%

60.54%-38.0pp

53.40%-30.8pp

373.66%-351.1pp

Employer contribution / active EE

$2,010

$7,596-73.5%

$6,790-70.4%

$4,754-57.7%

Participant deferral / active EE

$8,012

$11,626-31.1%

$10,410-23.0%

$6,712+19.4%

Admin fee / account holder

$607

$15,393-96.1%

$12,824-95.3%

$11,409-94.7%

MORTON BURDETTE INSURANCE GROUP, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MORTON BURDETTE INSURANCE GROUP, LLC 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