Retirement plan

HIGGINS, CAVANAGH & COONEY 401(K) AND PROFIT SHARING PLAN

Name: HIGGINS, CAVANAGH & COONEY, LLP - HIGGINS, CAVANAGH & COONEY 401(K) AND PROFIT SHARING PLAN (2023) Form 5500
Creator: HIGGINS, CAVANAGH & COONEY, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HIGGINS, CAVANAGH & COONEY 401(K) AND PROFIT SHARING PLAN, HIGGINS, CAVANAGH & COONEY, LLP

HIGGINS, CAVANAGH & COONEY, LLPEIN 05-0419306Plan #002PY 2023

10 DORRANCE STREET, SUITE 400 - PROVIDENCE, RI 02903401-272-3500hcc-law.comLinkedIn11-50 employeeslaw practice

Other plans on this EIN

1 filing

#001Retirement--

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.2M

+99.8% from 2022

Total participants

-15.6% from 2022

Average account balance

$123,958

+69.1% from 2022

Annual return

97.98%

+115.01 pp from 2022

Benchmarks

See 139,707 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,707 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.48M

Not enough data

1 years with asset history on file

Average account balance

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

$166K

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.

168.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$192K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+18.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6405

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 codes2F2G2J3B

Plan features

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$117K

$6487 / participant

Other / not subdivided$117K100.0%

% of EOY assets

3.623%

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

$123,958

$148,629-16.6%

$135,982-8.8%

$139,487-11.1%

Participation rate

94.4%

83.9%+10.6pp

81.9%+12.5pp

80.3%+14.1pp

Annual return

97.98%

79.33%+18.7pp

68.32%+29.7pp

373.84%-275.9pp

Employer contribution / active EE

$5,247-100.0%

$4,859-100.0%

$4,755-100.0%

Participant deferral / active EE

$7,900

$8,102-2.5%

$7,760+1.8%

$6,713+17.7%

Admin fee / account holder

$4,491

$12,406-63.8%

$10,767-58.3%

$11,407-60.6%

HIGGINS, CAVANAGH & COONEY 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HIGGINS, CAVANAGH & COONEY 401(K) AND 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