Ohio › Finance and insurance › 250 to 499 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Embrace Pet Insurance 401(k) Plan
Sponsored by Cleverland Holdings, LLC, Cleveland, OH
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
In the plan year ending 31 Dec 2024, Embrace Pet Insurance 401(k) Plan covered 434 participants and held $11.2M in net assets. The plan is a 401(k) plan sponsored by Cleverland Holdings, LLC of Cleveland, Ohio.
Net assets came to $25,825 per participant, well below the $48,719 median for defined contribution plans with 250 to 499 participants and well below the $92,323 median for defined contribution plans in finance and insurance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 2 service provider organisations paid $5,000 or more, with reported compensation of $74K: $171 per participant, above the same-size median of $141. Administrative expenses charged to the plan were $74K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $25,825 | $48,719 | $92,323 | $53,089 |
| Employer contributions per active participant | — | $2,015 | $3,565 | $2,174 |
| Schedule C compensation per participant | $171 | $141 | $137 | $123 |
| Schedule C compensation, share of net assets | 0.66% | 0.30% | 0.17% | 0.26% |
| Administrative expenses per participant | $171 | $133 | $130 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 250 to 499 participants (17,492 plans), finance and insurance (4,398) and all US plans (63,607). Fee medians cover plans that report an amount.
Statement for the year
- Net assets, beginning of year$0
- Employer contributions—
- Participant contributions$1,414,503
- Rollovers and other contributions$237,899
- Total contributions$1,652,402
- Total income, including investment results$2,885,487
- Benefits paid$1,189,678
- Administrative expenses$74,415
- Total expenses$1,273,528
- Net income$1,611,959
- Net transfers$9,596,210
- Net assets, end of year$11,208,169
Participants
- Active participants340
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits94
- Participants with account balances434
- Total participants, end of year434
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Lincoln Financial | Contract Administrator; Recordkeeping and information management; Custodial (securities); Participant loan processing; Participant communication | $59,340 | $0 |
| Trinity Investment Advisors LLC | Investment advisory (participants); Investment advisory (plan); Investment management | $15,075 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Recordkeeping fees$59,340
- Investment advisory and management fees$15,075
- Total administrative expenses$74,415
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Registered investment companies (mutual funds)$11.1M · 98.7%
- Participant loans$141K · 1.3%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmArmanino, LLP
- Participant contributions reported as transmitted lateYes, $1,791
- Covered by a fidelity bondYes, $32,000,000
- Blackout period during the yearYes
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2AAge/service weighted or new comparability or similar plan2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2S401(k) plan or 403(b) plan that provides for automatic enrollment2TTotal or partial participant-directed account plan with a default investment account3BPlan covering self-employed individuals3DPre-approved pension plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 524210: Insurance Agencies & Brokerages.
Similar plans in Ohio
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Beam Technologies 401(k) Plan | Beam Technologies Inc. | 436 | $16.9M | $38,672 |
| Kemba Financial Credit Union, Inc. 401(k) Profit Sharing Plan | Kemba Financial Credit Union, Inc. | 431 | $36.4M | $84,362 |
| McGohan Brabender 401(k) Profit Sharing Plan | McGohan/brabender Agency, Inc. | 447 | $61.6M | $137,877 |
| SB Financial Group 401(k) | SB Financial Group | 385 | $37.8M | $98,067 |
| Rental Concepts, Inc. Profit Sharing Plan and Trust | Rental Concepts, Inc. | 463 | $20.2M | $43,610 |
| Western Reserve Group 401(k) Profit Sharing Plan | Western Reserve Mutual Casualty Company | 357 | $62.0M | $173,580 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is Embrace Pet Insurance 401(k) Plan?
434 participants at the end of the plan year ending 31 Dec 2024, of whom 340 were active employees, with net assets of $11,208,169. Among defined contribution plans that places it in the 250 to 499 participants band, which held 17,492 plans in plan year 2024.
What does Cleverland Holdings, LLC contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $74,415 in compensation to service provider organisations, $171 per participant or 0.66% of net assets. The same-size median among plans reporting any Schedule C compensation was $141 per participant. Administrative expenses on Schedule H were $74,415. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Cleverland Holdings, LLC. Recordkeeping or administration: Lincoln Financial. Investment advisory or management: Trinity Investment Advisors LLC. Trustee or custodian: Lincoln Financial. The financial statements were audited by Armanino, LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 23 Sep 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Sep 2026. This page shows the latest filing on record for EIN 20-1804371, plan 003, received 23 Sep 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.