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 (2022) 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 2022

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

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$3.4M

+0.2% from 2021

Total participants

0.0% from 2021

Average account balance

$339,821

+10.3% from 2021

Annual return

-0.31%

-11.47 pp from 2021

Benchmarks

See 21,402 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort21,402 peers

Snapshot2022

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

$84K

$8366 / participant

Other / not subdivided$84K100.0%

% of EOY assets

2.462%

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

$339,821

$95,917+254.3%

$79,583+327.0%

$134,545+152.6%

Participation rate

90.0%

75.0%+15.0pp

69.5%+20.5pp

81.2%+8.8pp

Annual return

-0.31%

-2.70%+2.4pp

0.16%-0.5pp

418.37%-418.7pp

Employer contribution / active EE

$1,476

$3,129-52.8%

$2,414-38.9%

$4,742-68.9%

Participant deferral / active EE

$8,762

$4,694+86.7%

$3,986+119.8%

$6,401+36.9%

Admin fee / account holder

$8,366

$9,132-8.4%

$6,835+22.4%

$11,431-26.8%

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