Retirement plan

HOYT ELECTRICAL INSTRUMENT WORKS, INC. PROFIT SHARING PLAN

Name: HOYT ELECTRICAL INSTRUMENT WORKS, INC. - HOYT ELECTRICAL INSTRUMENT WORKS, INC. PROFIT SHARING PLAN (2016) Form 5500
Creator: HOYT ELECTRICAL INSTRUMENT WORKS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOYT ELECTRICAL INSTRUMENT WORKS, INC. PROFIT SHARING PLAN, HOYT ELECTRICAL INSTRUMENT WORKS, INC.

HOYT ELECTRICAL INSTRUMENT WORKS, INC.EIN 02-0230760Plan #001PY 2016

23 METER STREET - PENACOOK, NH 03303603-753-6321hoytmeter.comLinkedIn51-200 employeeselectrical/electronic manufacturing

Prospect flagsHigh feesLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$1M

No prior year

Total participants

No prior year

Average account balance

$32,316

No prior year

Annual return

5.31%

No prior year

Benchmarks

See 15,087 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort15,087 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.56M

Not enough data

1 years with asset history on file

Average account balance

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

$69K

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.

112.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$178K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+12.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$810

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 codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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 employer contribution
Employer 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

$45K

$1374 / participant

Other / not subdivided$45K100.0%

% of EOY assets

4.527%

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

$32,316

$60,349-46.5%

$74,184-56.4%

$62,881-48.6%

Participation rate

72.7%

72.7%0pp

76.6%-3.9pp

69.3%+3.4pp

Annual return

5.31%

21.38%-16.1pp

17.74%-12.4pp

20.14%-14.8pp

Employer contribution / active EE

$118

$1,680-93.0%

$2,370-95.0%

$2,281-94.8%

Participant deferral / active EE

$1,632

$2,856-42.9%

$3,550-54.0%

$3,203-49.1%

Admin fee / account holder

$1,463

$4,261-65.7%

$5,586-73.8%

$4,296-65.9%

HOYT ELECTRICAL INSTRUMENT WORKS, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOYT ELECTRICAL INSTRUMENT WORKS, INC. 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