Retirement plan

PHYSICIANS INSURANCE MONEY PURCHASE PLAN

Name: PHYSICIANS INSURANCE A MUTUAL COMPANY - PHYSICIANS INSURANCE MONEY PURCHASE PLAN (2024) Form 5500
Creator: PHYSICIANS INSURANCE A MUTUAL COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PHYSICIANS INSURANCE MONEY PURCHASE PLAN, PHYSICIANS INSURANCE A MUTUAL COMPANY

PHYSICIANS INSURANCE A MUTUAL COMPANYEIN 91-1160717Plan #001PY 2024

601 UNION STREET, SUITE 500 - SEATTLE, WA 98101206-343-7300phyins.comLinkedIn51-200 employeesinsurance

Other plans on this EIN

1 filing

#002Retirement-$32.2M assets

Prospect flagsHigh feesLow participant contributionLow fidelity bond

How to read this page

Total assets (EOY)

$21.4M

+5.1% from 2023

Total participants

111

-0.9% from 2023

Average account balance

$192,654

+6.0% from 2023

Annual return

13.49%

-4.51 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

$21.38M

Not enough data

1 years with asset history on file

Average account balance

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

$193K

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.

111

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.32M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+13.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$27437

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 codes2E2F2G2T3D2C

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
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.
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$3.0M

$32747 / participant

Other / not subdivided$3M100.0%

% of EOY assets

14.242%

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

$192,654

$138,385+39.2%

$184,243+4.6%

$80,925+138.1%

Participation rate

100.0%

83.9%+16.1pp

86.8%+13.2pp

67.7%+32.3pp

Annual return

13.49%

20.02%-6.5pp

28.82%-15.3pp

35.65%-22.2pp

Employer contribution / active EE

$14,145

$4,851+191.6%

$6,427+120.1%

$2,756+413.2%

Participant deferral / active EE

$7,075-100.0%

$9,132-100.0%

$4,299-100.0%

Admin fee / account holder

$27,437

$10,489+161.6%

$13,914+97.2%

$6,940+295.3%

PHYSICIANS INSURANCE MONEY PURCHASE PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PHYSICIANS INSURANCE MONEY PURCHASE 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