Retirement plan

H.H. BENFIELD ELECTRIC SUPPLY COMPANY 401(K) PLAN FOR COLLECTIVE BARGAINING

Name: H.H. BENFIELD ELECTRIC SUPPLY COMPANY, INC. - H.H. BENFIELD ELECTRIC SUPPLY COMPANY 401(K) PLAN FOR COLLECTIVE BARGAINING (2023) Form 5500
Creator: H.H. BENFIELD ELECTRIC SUPPLY COMPANY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, H.H. BENFIELD ELECTRIC SUPPLY COMPANY 401(K) PLAN FOR COLLECTIVE BARGAINING, H.H. BENFIELD ELECTRIC SUPPLY COMPANY, INC.

H.H. BENFIELD ELECTRIC SUPPLY COMPANY, INC.EIN 13-1697547Plan #002PY 2023

240 WASHINGTON STREET - MT. VERNON, NY 10553914-948-6660

Other plans on this EIN

2 filings

#003Retirement-$15.7M assets #001Retirement-$11.3M assets

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$1.9M

-18.3% from 2022

Total participants

-6.7% from 2022

Average account balance

$71,881

-2.6% from 2022

Annual return

13.88%

+26.62 pp from 2022

Benchmarks

See 9,210 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,210 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.33M

Not enough data

1 years with asset history on file

Average account balance

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

$86K

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.

73.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$69K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+23.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2319

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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$836K

$26970 / participant

Other / not subdivided$836K100.0%

% of EOY assets

44.736%

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

$71,881

$91,536-21.5%

$130,062-44.7%

$75,177-4.4%

Participation rate

48.4%

71.5%-23.1pp

78.5%-30.1pp

67.2%-18.8pp

Annual return

13.88%

-631.62%+645.5pp

-137.37%+151.3pp

160.75%-146.9pp

Employer contribution / active EE

$2,845-100.0%

$4,322-100.0%

$2,671-100.0%

Participant deferral / active EE

$2,825

$4,343-35.0%

$5,821-51.5%

$4,126-31.5%

Admin fee / account holder

$32,156

$6,780+374.3%

$10,601+203.3%

$5,651+469.0%

H.H. BENFIELD ELECTRIC SUPPLY COMPANY 401(K) PLAN FOR COLLECTIVE BARGAINING

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

H.H. BENFIELD ELECTRIC SUPPLY COMPANY 401(K) PLAN FOR COLLECTIVE BARGAINING

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