Retirement plan

LEGACY INSURANCE PARTNERS, INC.

Name: LEGACY INSURANCE PARTNERS, INC. - LEGACY INSURANCE PARTNERS, INC. (2024) Form 5500
Creator: LEGACY INSURANCE PARTNERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LEGACY INSURANCE PARTNERS, INC., LEGACY INSURANCE PARTNERS, INC.

LEGACY INSURANCE PARTNERS, INC.EIN 84-3748559Plan #001PY 2024

630 4TH ST. SW - HICKORY, NC 28602828-328-5671

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$10.6M

+17.1% from 2023

Total participants

+28.6% from 2023

Average account balance

$195,654

-8.9% from 2023

Annual return

11.23%

-0.62 pp from 2023

Benchmarks

See 7,155 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,155 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.57M

Not enough data

1 years with asset history on file

Average account balance

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

$196K

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.

114.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$610K

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

+11.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1507

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 codes2E2F2G2J2R3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

1 tripped

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

$81K

$1732 / participant

Other / not subdivided$81K100.0%

% of EOY assets

0.770%

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

$195,654

$138,386+41.4%

$184,260+6.2%

$80,935+141.7%

Participation rate

100.0%

83.9%+16.1pp

86.8%+13.2pp

67.7%+32.3pp

Annual return

11.23%

20.02%-8.8pp

28.84%-17.6pp

35.66%-24.4pp

Employer contribution / active EE

$5,004

$4,851+3.2%

$6,427-22.1%

$2,757+81.5%

Participant deferral / active EE

$7,982

$7,076+12.8%

$9,133-12.6%

$4,299+85.7%

Admin fee / account holder

$1,507

$10,489-85.6%

$13,898-89.2%

$6,924-78.2%

LEGACY INSURANCE PARTNERS, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LEGACY INSURANCE PARTNERS, INC.

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