Retirement plan

HOFFMAN ENTERPRISES 401(K) SAVINGS PLAN

Name: HOFFMAN ENTERPRISES - HOFFMAN ENTERPRISES 401(K) SAVINGS PLAN (2020) Form 5500
Creator: HOFFMAN ENTERPRISES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOFFMAN ENTERPRISES 401(K) SAVINGS PLAN, HOFFMAN ENTERPRISES

HOFFMAN ENTERPRISESEIN 06-1012275Plan #001PY 2020

700 CONNECTICUT BLVD. - EAST HARTFORD, CT 06108860-290-6146thehoffmanpress.comLinkedIn1-10 employees

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$24.2M

+7.7% from 2019

Total participants

619

-4.8% from 2019

Average account balance

$43,245

+10.6% from 2019

Annual return

11.45%

-8.02 pp from 2019

Benchmarks

See 1,285 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,285 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$29.57M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

555

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.

90.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.64M

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

+15.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$217

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 5 by compensation

Provider	Service type	Compensation
MJP ASSOCIATES INC.6+ years Service code 27 790 FARMINGTON AVE BLDG 3 · FARMINGTON, CT 06032	Advisory (Plan)	$39,821
MJP ASSOCIATES INC.4 years Filed as: MJP ASSOCIATES, INC. Service code 71 790 FARMINGTON AVE BLDG 3 · FARMINGTON, CT 06032	Brokerage Fees	$23,531
PENSION ASSURANCE LLP6+ years Filed as: THE PENSION SERVICE, INC. Service code 13 127 WASHINGTON AVE, WEST WING · NORTH HAVEN, CT 064730478	Contract Administrator	$15,900
TD AMERITRADE, INC.6+ years Service code 33 200 S. 108TH AVENUE · OMAHA, NE 68154	Securities brokerage	$4,215
GREAT-WEST LIFE & ANNUITY INSURANCE6+ years Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3D3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$50K

$139 / participant

Investment mgmt$2K3.0%
Other / not subdivided$49K97.0%

% of EOY assets

0.207%

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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$43,245

$64,286-32.7%

$90,970-52.5%

$73,412-41.1%

Participation rate

83.6%

63.6%+20.0pp

69.0%+14.6pp

72.2%+11.4pp

Annual return

11.45%

21.46%-10.0pp

134.60%-123.1pp

59.30%-47.8pp

Employer contribution / active EE

$579

$895-35.2%

$2,122-72.7%

$2,234-74.1%

Participant deferral / active EE

$4,065

$2,453+65.7%

$3,373+20.5%

$3,806+6.8%

Admin fee / account holder

$89

$287-68.8%

$5,961-98.5%

$158-43.3%

Provider

Service type

Compensation

MJP ASSOCIATES INC.6+ years

Service code 27

790 FARMINGTON AVE BLDG 3 · FARMINGTON, CT 06032

Advisory (Plan)

$39,821

MJP ASSOCIATES INC.4 years

Filed as: MJP ASSOCIATES, INC.

Service code 71

790 FARMINGTON AVE BLDG 3 · FARMINGTON, CT 06032

Brokerage Fees

$23,531

PENSION ASSURANCE LLP6+ years

Filed as: THE PENSION SERVICE, INC.

Service code 13

127 WASHINGTON AVE, WEST WING · NORTH HAVEN, CT 064730478

Contract Administrator

$15,900

TD AMERITRADE, INC.6+ years

Service code 33

200 S. 108TH AVENUE · OMAHA, NE 68154

Securities brokerage

$4,215

GREAT-WEST LIFE & ANNUITY INSURANCE6+ years

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

HOFFMAN ENTERPRISES 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOFFMAN ENTERPRISES 401(K) SAVINGS 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