Retirement plan

MERCURY GENERAL CORPORATION PROFIT SHARING PLAN

Name: MERCURY GENERAL CORPORATION - MERCURY GENERAL CORPORATION PROFIT SHARING PLAN (2022) Form 5500
Creator: MERCURY GENERAL CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MERCURY GENERAL CORPORATION PROFIT SHARING PLAN, MERCURY GENERAL CORPORATION

MERCURY GENERAL CORPORATIONEIN 95-2211612Plan #001PY 2022

4484 WILSHIRE BLVD. - LOS ANGELES, CA 90010323-857-4972

Prospect flagsLow returnsFailed to provide benefit

How to read this page

Total assets (EOY)

$677.9M

-10.2% from 2016

Total participants

5,698

-11.5% from 2016

Average account balance

$123,320

-3.0% from 2016

Annual return

-19.61%

-11.29 pp from 2016

Benchmarks

See 565 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort565 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$940.92M

Not enough data

1 years with asset history on file

Average account balance

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

$174K

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.

5,415

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.

94.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$47.25M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+17.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$103

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 6 by compensation

Provider	Service type	Compensation
STRATEGIC ADVISORS, INC.8+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$376,830
FIDELITY INVESTMENTS INSTITUTIONAL8+ years Service code 37 · EIN 04-2647786	Loan Processing	$87,835
MORGAN STANLEY SMITH BARNEY8+ years Filed as: MORGAN STANLEY Service code 16 · EIN 26-4310632	Consulting	$49,500
BFSG LLC1 year Filed as: BFSG, LLC Service code 16 · EIN 20-8161914	Consulting	$37,500
HOLTHOUSE CARLIN & VAN TRIGT LLP6 years Service code 10 · EIN 95-4345526	Accounting	$16,730
BENEFIT FUNDING SERVICES GROUP8+ years Service code 16 · EIN 20-8532658	Consulting	$12,500

Plan features & details

Pension benefit codes2F2I2J2K2O2S2T2E

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).
2I
Stock bonus
Stock bonus plan.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
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.

Opportunity flags

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.

Expense breakdown

Schedule H Part II

Admin total

$583K

$139 / participant

Investment mgmt$377K64.7%
Other / not subdivided$206K35.3%

% of EOY assets

0.086%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HOLTHOUSE, CARLIN, & VAN TRIGT, LLP
Auditor EIN: 954345526
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$123,320

$95,918+28.6%

$151,634-18.7%

$77,906+58.3%

Participation rate

95.2%

88.7%+6.5pp

87.5%+7.7pp

73.7%+21.5pp

Annual return

-19.61%

-5.50%-14.1pp

3.32%-22.9pp

12.16%-31.8pp

Employer contribution / active EE

$2,696

$4,330-37.7%

$6,165-56.3%

$2,846-5.3%

Participant deferral / active EE

$7,758

$7,508+3.3%

$8,363-7.2%

$4,805+61.4%

Admin fee / account holder

$106

$93+13.6%

$11,614-99.1%

$133-20.1%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.8+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$376,830

FIDELITY INVESTMENTS INSTITUTIONAL8+ years

Service code 37 · EIN 04-2647786

Loan Processing

$87,835

MORGAN STANLEY SMITH BARNEY8+ years

Filed as: MORGAN STANLEY

Service code 16 · EIN 26-4310632

Consulting

$49,500

BFSG LLC1 year

Filed as: BFSG, LLC

Service code 16 · EIN 20-8161914

Consulting

$37,500

HOLTHOUSE CARLIN & VAN TRIGT LLP6 years

Service code 10 · EIN 95-4345526

Accounting

$16,730

BENEFIT FUNDING SERVICES GROUP8+ years

Service code 16 · EIN 20-8532658

Consulting

$12,500

MERCURY GENERAL CORPORATION PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MERCURY GENERAL CORPORATION 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