Retirement plan

HUGHES GENERAL CONTRACTORS 401(K) RETIREMENT PLAN

Name: HUGHES GENERAL CONTRACTORS - HUGHES GENERAL CONTRACTORS 401(K) RETIREMENT PLAN (2022) 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 2022

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

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$7.9M

-14.0% from 2021

Total participants

262

+1.2% from 2021

Average account balance

$36,869

-18.0% from 2021

Annual return

-20.30%

-36.28 pp from 2021

Benchmarks

See 3,002 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,002 peers

Snapshot2022

See peer percentile detail. $4.99 for your first month.

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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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE6 years Filed as: GREAT-WEST LIFE & ANNUITY CO Service code 64 · EIN 01-0233346 8515 E. ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$24,860
LPL FINANCIAL4 years Filed as: LPL FINANCIAL, LLC Service code 55 4707 EXECUTIVE DR. · SAN DIEGO, CA 92121	Other Commissions	$24,628
WC ADMINISTRATORS, LLC6 years Service code 13 6995 UNION PARK CTR #320 · MIDVALE, UT 84047	Contract Administrator	$15,425
CLIFTONLARSONALLEN LLP1 year Filed as: CLIFTON LARSON ALLEN WEALTH ADVISOR Service code 10 1301 W. 22ND ST., SUITE 1100 · OAK BROOK, IL 60523	Accounting	$10,000
LEAFHOUSE FINANCIAL ADVISORS, LLC6 years Service code 99 6011 W COURTYARD DRIVE · AUSTIN, TN 78730	Other Fees	$6,459
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: ADVISED ASSETS GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$4,733

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$84K

$381 / participant

Contract admin$69K81.7%
Other / not subdivided$15K18.3%

% of EOY assets

1.062%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: ALDRICH CPAS & ADVISORS, LLP
Auditor EIN: 930623286
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,869

$64,119-42.5%

$112,228-67.1%

$66,914-44.9%

Participation rate

78.7%

68.5%+10.3pp

75.1%+3.7pp

69.8%+8.9pp

Annual return

-20.30%

-13.81%-6.5pp

27.45%-47.7pp

1.58%-21.9pp

Employer contribution / active EE

$1,364

$3,005-54.6%

$3,635-62.5%

$2,544-46.4%

Participant deferral / active EE

$3,647

$3,693-1.3%

$4,728-22.9%

$4,237-13.9%

Admin fee / account holder

$392

$625-37.4%

$6,410-93.9%

$593-34.0%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE6 years

Filed as: GREAT-WEST LIFE & ANNUITY CO

Service code 64 · EIN 01-0233346

8515 E. ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$24,860

LPL FINANCIAL4 years

Filed as: LPL FINANCIAL, LLC

Service code 55

4707 EXECUTIVE DR. · SAN DIEGO, CA 92121

Other Commissions

$24,628

WC ADMINISTRATORS, LLC6 years

Service code 13

6995 UNION PARK CTR #320 · MIDVALE, UT 84047

Contract Administrator

$15,425

CLIFTONLARSONALLEN LLP1 year

Filed as: CLIFTON LARSON ALLEN WEALTH ADVISOR

Service code 10

1301 W. 22ND ST., SUITE 1100 · OAK BROOK, IL 60523

Accounting

$10,000

LEAFHOUSE FINANCIAL ADVISORS, LLC6 years

Service code 99

6011 W COURTYARD DRIVE · AUSTIN, TN 78730

Other Fees

$6,459

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: ADVISED ASSETS GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$4,733

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