Retirement plan

HOLMES MECHANICAL CORP. THRIFT INCENTIVE PLAN

Name: HOLMES MECHANICAL CORP. - HOLMES MECHANICAL CORP. THRIFT INCENTIVE PLAN (2024) Form 5500
Creator: HOLMES MECHANICAL CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOLMES MECHANICAL CORP. THRIFT INCENTIVE PLAN, HOLMES MECHANICAL CORP.

HOLMES MECHANICAL CORP.EIN 11-2435777Plan #001PY 2024

9301 DITMAS AVE - BROOKLYN, NY 112361822718-922-5500LinkedIn1-10 employeesmechanical or industrial engineering

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$2.8M

+17.2% from 2023

Total participants

0.0% from 2023

Average account balance

$279,502

+17.2% from 2023

Annual return

11.14%

-1.99 pp from 2023

Benchmarks

See 23,012 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort23,012 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.80M

Not enough data

1 years with asset history on file

Average account balance

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

$280K

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.

111.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$144K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+11.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1939

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 codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$19K

$2154 / participant

Other / not subdivided$19K100.0%

% of EOY assets

0.694%

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

$279,502

$117,829+137.2%

$102,423+172.9%

$145,877+91.6%

Participation rate

100.0%

78.6%+21.4pp

76.5%+23.5pp

80.3%+19.7pp

Annual return

11.14%

31.83%-20.7pp

29.42%-18.3pp

551.28%-540.1pp

Employer contribution / active EE

$4,655

$3,615+28.8%

$3,023+54.0%

$4,663-0.2%

Participant deferral / active EE

$11,320

$5,732+97.5%

$5,054+124.0%

$6,691+69.2%

Admin fee / account holder

$1,939

$13,335-85.5%

$9,455-79.5%

$13,402-85.5%

HOLMES MECHANICAL CORP. THRIFT INCENTIVE PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOLMES MECHANICAL CORP. THRIFT INCENTIVE 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