Retirement plan

LONG ISLAND HEARING, INC. 401(K) PROFIT SHARING PLAN

Name: LONG ISLAND HEARING, INC. - LONG ISLAND HEARING, INC. 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: LONG ISLAND HEARING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LONG ISLAND HEARING, INC. 401(K) PROFIT SHARING PLAN, LONG ISLAND HEARING, INC.

LONG ISLAND HEARING, INC.EIN 11-2766744Plan #001PY 2020

3475 HEMPSTEAD TURNPIKE - LEVITTOWN, NY 11756516-735-9191lihearing.comLinkedIn1-10 employees

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$2.9M

+11.1% from 2019

Total participants

+10.0% from 2019

Average account balance

$262,521

+1.0% from 2019

Annual return

6.66%

-2.22 pp from 2019

Benchmarks

See 18,868 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort18,868 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.50M

Not enough data

1 years with asset history on file

Average account balance

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

$292K

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

$141K

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

+12.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6850

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 codes2E2J2R3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

$7K

$639 / participant

Other / not subdivided$7K100.0%

% of EOY assets

0.243%

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

$262,521

$112,933+132.5%

$90,970+188.6%

$158,982+65.1%

Participation rate

100.0%

74.7%+25.3pp

69.0%+31.0pp

82.0%+18.0pp

Annual return

6.66%

215.82%-209.2pp

134.60%-127.9pp

302.99%-296.3pp

Employer contribution / active EE

$4,545

$2,893+57.1%

$2,122+114.2%

$4,763-4.6%

Participant deferral / active EE

$6,685

$4,128+61.9%

$3,373+98.2%

$5,983+11.7%

Admin fee / account holder

$639

$8,047-92.1%

$5,961-89.3%

$11,252-94.3%

LONG ISLAND HEARING, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LONG ISLAND HEARING, INC. 401(K) 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