Retirement plan

HARRY BRAINUM JR INC 401(K) PROFIT SHARING PLAN & TRUST

Name: HARRY BRAINUM JR INC - HARRY BRAINUM JR INC 401(K) PROFIT SHARING PLAN & TRUST (2023) Form 5500
Creator: HARRY BRAINUM JR INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HARRY BRAINUM JR INC 401(K) PROFIT SHARING PLAN & TRUST, HARRY BRAINUM JR INC

HARRY BRAINUM JR INCEIN 11-0565240Plan #002PY 2023

855 E 140TH ST - BRONX, NY 10454718-389-4080hbsteel.comLinkedIn11-50 employeespackage/freight delivery

Other plans on this EIN

1 filing

#003Retirement-$194K assets

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$6M

+20.6% from 2022

Total participants

-15.4% from 2022

Average account balance

$549,895

+31.5% from 2022

Annual return

21.24%

+44.42 pp from 2022

Benchmarks

See 1,529 peers

Peer group

Industry49 - Transportation and Warehousing

Plan typeDefined contribution

Participants<25

Cohort1,529 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.25M

Not enough data

1 years with asset history on file

Average account balance

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

$906K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$176K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$22K

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

+15.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$107063

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 codes2E2F2G2J2T3D3H

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$214K

$26759 / participant

Other / not subdivided$214K100.0%

% of EOY assets

3.539%

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

$549,895

$116,434+372.3%

$65,583+738.5%

$139,487+294.2%

Participation rate

100.0%

67.9%+32.1pp

65.0%+35.0pp

80.3%+19.7pp

Annual return

21.24%

31.34%-10.1pp

47.46%-26.2pp

373.84%-352.6pp

Employer contribution / active EE

$10,748

$2,602+313.1%

$1,692+535.1%

$4,755+126.1%

Participant deferral / active EE

$9,517

$4,245+124.2%

$2,833+236.0%

$6,713+41.8%

Admin fee / account holder

$19,461

$6,696+190.6%

$4,112+373.3%

$11,407+70.6%

HARRY BRAINUM JR INC 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HARRY BRAINUM JR INC 401(K) PROFIT SHARING PLAN & TRUST

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