Retirement plan

LEGACY INSURANCE PARTNERS, INC.

Name: LEGACY INSURANCE PARTNERS, INC. - LEGACY INSURANCE PARTNERS, INC. (2022) 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 2022

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$7.7M

-7.7% from 2021

Total participants

+7.5% from 2021

Average account balance

$178,619

-14.1% from 2021

Annual return

-12.86%

-18.36 pp from 2021

Benchmarks

See 7,130 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,130 peers

Snapshot2022

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 codes2E2F2G2J2R

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.

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

$68K

$1787 / participant

Other / not subdivided$68K100.0%

% of EOY assets

0.884%

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

$178,619

$110,083+62.3%

$151,628+17.8%

$68,495+160.8%

Participation rate

100.0%

84.0%+16.0pp

87.5%+12.5pp

67.9%+32.1pp

Annual return

-12.86%

-10.12%-2.7pp

3.34%-16.2pp

-7.84%-5.0pp

Employer contribution / active EE

$5,572

$4,470+24.6%

$6,165-9.6%

$2,596+114.6%

Participant deferral / active EE

$7,593

$6,526+16.3%

$8,363-9.2%

$4,028+88.5%

Admin fee / account holder

$1,579

$7,718-79.5%

$11,613-86.4%

$5,403-70.8%

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