Retirement plan

SILAC INSURANCE COMPANY EMPLOYEES 401(K) PROFIT SHARING PLAN

Name: SILAC INSURANCE COMPANY - SILAC INSURANCE COMPANY EMPLOYEES 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: SILAC INSURANCE COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SILAC INSURANCE COMPANY EMPLOYEES 401(K) PROFIT SHARING PLAN, SILAC INSURANCE COMPANY

SILAC INSURANCE COMPANYEIN 87-0129771Plan #001PY 2020

299 SOUTH MAIN STREET, SUITE 1100 - SALT LAKE CITY, UT 84111801-579-3711silacins.comLinkedIn201-500 employeesinsurance

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$16.1M

+17.9% from 2019

Total participants

247

+7.4% from 2019

Average account balance

$65,670

+9.7% from 2019

Annual return

15.93%

-7.64 pp from 2019

Benchmarks

See 2,211 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,211 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$25.41M

Not enough data

1 years with asset history on file

Average account balance

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

$68K

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.

376

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.

98.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.79M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+18.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$153

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 3 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.6+ years Filed as: SCHWAB RETIREMENT PLAN SERVICES INC Service code 15 · EIN 34-1479833	Recordkeeping	$24,797
CHARLES SCHWAB & CO., INC.6+ years Service code 33 · EIN 94-1737782	Securities brokerage commissions and ...	$2
CHARLES SCHWAB & CO., INC.6+ years Filed as: CHARLES SCHWAB & CO AND AFFILIATES Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2R2S2T3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$33K

$180 / participant

Other / not subdivided$33K100.0%

% of EOY assets

0.204%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: EIDE BAILLY
Auditor EIN: 450250958
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$65,670

$136,307-51.8%

$177,848-63.1%

$73,497-10.6%

Participation rate

98.9%

86.1%+12.8pp

87.7%+11.2pp

70.7%+28.2pp

Annual return

15.93%

18.68%-2.7pp

48.33%-32.4pp

28.51%-12.6pp

Employer contribution / active EE

$2,210

$3,712-40.5%

$5,919-62.7%

$2,270-2.7%

Participant deferral / active EE

$4,598

$5,829-21.1%

$7,714-40.4%

$3,740+23.0%

Admin fee / account holder

$134

$596-77.5%

$12,431-98.9%

$513-73.8%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.6+ years

Filed as: SCHWAB RETIREMENT PLAN SERVICES INC

Service code 15 · EIN 34-1479833

Recordkeeping

$24,797

CHARLES SCHWAB & CO., INC.6+ years

Service code 33 · EIN 94-1737782

Securities brokerage commissions and ...

CHARLES SCHWAB & CO., INC.6+ years

Filed as: CHARLES SCHWAB & CO AND AFFILIATES

Service code 59

Shareholder Servicing

SILAC INSURANCE COMPANY EMPLOYEES 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SILAC INSURANCE COMPANY EMPLOYEES 401(K) PROFIT SHARING 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