Retirement plan

HAMOND SAFETY MANAGEMENT PROFIT SHARING PLAN

Name: HAMOND SAFETY MANAGEMENT LLC - HAMOND SAFETY MANAGEMENT PROFIT SHARING PLAN (2022) Form 5500
Creator: HAMOND SAFETY MANAGEMENT LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HAMOND SAFETY MANAGEMENT PROFIT SHARING PLAN, HAMOND SAFETY MANAGEMENT LLC

HAMOND SAFETY MANAGEMENT LLCEIN 11-3350879Plan #002PY 2022

6800 JERICHO TURNPIKE, 105W - SYOSSET, NY 11791516-762-4213hamondgroup.comLinkedIn11-50 employeesinsurance

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.1M

No prior year

Total participants

No prior year

Average account balance

$125,073

No prior year

Annual return

-10.13%

No prior year

Benchmarks

See 35,205 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort35,205 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-1.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2J2F2G3D3H

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$548K

$28861 / participant

Other / not subdivided$548K100.0%

% of EOY assets

17.537%

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

$125,073

$167,533-25.3%

$151,645-17.5%

$134,545-7.0%

Participation rate

100.0%

88.4%+11.6pp

87.5%+12.5pp

81.2%+18.8pp

Annual return

-10.13%

7.81%-17.9pp

3.34%-13.5pp

418.37%-428.5pp

Employer contribution / active EE

$2,633

$6,828-61.4%

$6,165-57.3%

$4,742-44.5%

Participant deferral / active EE

$9,099

$8,985+1.3%

$8,363+8.8%

$6,401+42.2%

Admin fee / account holder

$21,935

$13,781+59.2%

$11,614+88.9%

$11,431+91.9%

HAMOND SAFETY MANAGEMENT PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HAMOND SAFETY MANAGEMENT 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