Retirement plan

HUGHES GENERAL CONTRACTORS 401(K) RETIREMENT PLAN

Name: HUGHES GENERAL CONTRACTORS - HUGHES GENERAL CONTRACTORS 401(K) RETIREMENT PLAN (2019) Form 5500
Creator: HUGHES GENERAL CONTRACTORS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HUGHES GENERAL CONTRACTORS 401(K) RETIREMENT PLAN, HUGHES GENERAL CONTRACTORS

HUGHES GENERAL CONTRACTORSEIN 03-0403856Plan #001PY 2019

P. O. BOX 540700 - NORTH SALT LAKE CITY, UT 840540700801-292-1411hughesgc.comLinkedIn201-500 employeesconstruction

Prospect flagsHigh feesLow participationRecently reached 100 employeesFailed to transmit contributions

How to read this page

Total assets (EOY)

$6M

+34.9% from 2018

Total participants

220

+12.8% from 2018

Average account balance

$43,135

-3.9% from 2018

Annual return

22.81%

+27.52 pp from 2018

Benchmarks

See 2,830 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,830 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.74M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

308

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.

87.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.64M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+29.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$341

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
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: GREAT-WEST LIFE & ANNUITY CO Service code 64 · EIN 01-0233346 8515 E. ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$34,077
WC ADMINISTRATORS, LLC3 years Service code 13 6995 UNION PARK CTR #320 · MIDVALE, UT 84047	Contract Administrator	$13,520
LEAFHOUSE FINANCIAL ADVISORS, LLC3 years Service code 99 6011 W COURTYARD DRIVE · AUSTIN, TN 78730	Other Fees	$5,035
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER RETIREMENT ADVISORY SVC Service code 28 815 EAST ORCHARD ROAD · ENWOOD VILLAGE, CO 80111	Investment Management	$1,519
LPL FINANCIAL1 year Filed as: LPL FINANCIAL, LLC Service code 55 4707 EXECUTIVE DR. · SAN DIEGO, CA 92121	Other Commissions	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.3 years Filed as: MASSACHUSETTS MUTUAL LIFE Service code 55 P.O BOX 771115 · CINCINNATI, OH 45277	Other Commissions	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$54K

$264 / participant

Contract admin$51K94.5%
Other / not subdivided$3K5.5%

% of EOY assets

0.892%

all-in expense ratio

Categories reported

1 / 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: STAYNER BATES P.C.
Auditor EIN: 870495153
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$43,135

$63,114-31.7%

$92,915-53.6%

$65,186-33.8%

Participation rate

60.1%

68.8%-8.7pp

76.0%-15.9pp

70.2%-10.1pp

Annual return

22.81%

28.75%-5.9pp

109.45%-86.6pp

29.39%-6.6pp

Employer contribution / active EE

$1,017

$2,571-60.4%

$3,653-72.2%

$2,177-53.3%

Participant deferral / active EE

$2,831

$3,108-8.9%

$4,238-33.2%

$3,514-19.4%

Admin fee / account holder

$385

$624-38.3%

$5,796-93.4%

$847-54.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: GREAT-WEST LIFE & ANNUITY CO

Service code 64 · EIN 01-0233346

8515 E. ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$34,077

WC ADMINISTRATORS, LLC3 years

Service code 13

6995 UNION PARK CTR #320 · MIDVALE, UT 84047

Contract Administrator

$13,520

LEAFHOUSE FINANCIAL ADVISORS, LLC3 years

Service code 99

6011 W COURTYARD DRIVE · AUSTIN, TN 78730

Other Fees

$5,035

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER RETIREMENT ADVISORY SVC

Service code 28

815 EAST ORCHARD ROAD · ENWOOD VILLAGE, CO 80111

Investment Management

$1,519

LPL FINANCIAL1 year

Filed as: LPL FINANCIAL, LLC

Service code 55

4707 EXECUTIVE DR. · SAN DIEGO, CA 92121

Other Commissions

MASSACHUSETTS MUTUAL LIFE INS. CO.3 years

Filed as: MASSACHUSETTS MUTUAL LIFE

Service code 55

P.O BOX 771115 · CINCINNATI, OH 45277

Other Commissions

HUGHES GENERAL CONTRACTORS 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HUGHES GENERAL CONTRACTORS 401(K) RETIREMENT 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