Retirement plan

HINMAN, HOWARD & KATTELL, LLP PROFIT SHARING PLAN AND TRUST NO. 2

Name: HINMAN, HOWARD & KATTELL, LLP - HINMAN, HOWARD & KATTELL, LLP PROFIT SHARING PLAN AND TRUST NO. 2 (2024) Form 5500
Creator: HINMAN, HOWARD & KATTELL, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HINMAN, HOWARD & KATTELL, LLP PROFIT SHARING PLAN AND TRUST NO. 2, HINMAN, HOWARD & KATTELL, LLP

HINMAN, HOWARD & KATTELL, LLPEIN 15-0561878Plan #001PY 2024

80 EXCHANGE STREET - BINGHAMTON, NY 13901607-723-5341hhk.comLinkedIn51-200 employeeslaw practice

Other plans on this EIN

1 filing

#002Retirement-$50.3M assets

Prospect flagsHigh retiree %High feesHigh assets / participant

How to read this page

Total assets (EOY)

$50.3M

+11.3% from 2023

Total participants

0.0% from 2023

Average account balance

$10,063,451

+11.3% from 2023

Annual return

14.31%

-0.94 pp from 2023

Benchmarks

See 143,710 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort143,710 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$50.32M

Not enough data

1 years with asset history on file

Average account balance

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

$10.1M

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

$1.46M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1M

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

+14.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$21393

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 6 by compensation

Provider	Service type	Compensation
DOUGLASS WINTHROP ADVISORS LLC4 years Filed as: DOUGLAS WINTHROP ADVISORS, LLC Service code 51 · EIN 13-4085380 521 FIFTH AVE · NEW YORK, NY 14618	Investment Mgmt Fees	$47,725
JOHN G. ULLMAN & ASSOCIATES, INC.4 years Filed as: JOHN G. ULLMAN & ASSOCIATES Service code 64 · EIN 10-1113141 51 EAST MARKET STREET · CORNING, NY 14830	Recordkeeping Fees	$30,200
NBT BANCORP NA4 years Filed as: NBT WEALTH MANAGAMENT Service code 64 · EIN 15-0395735 52 SOUTH BROAD STREET · NORWICH, NY 13815	Recordkeeping Fees	$10,042
TRG CAPITAL MANAGEMENT9 years Service code 51 · EIN 26-1985157 520 COLUMBIA DRIVE · JOHNSON CITY, NY 13790	Investment Mgmt Fees	$8,234
NEWPORT GROUP, INC.6 years Filed as: NEWPORT GROUP Service code 15 · EIN 27-2037969	Recordkeeping	$8,102
KESTRA INVESTMENT SERVICES LLC9 years Filed as: KESTRA ADVISORY SERVICES, LLC Service code 51 · EIN 35-2552359 5707 SOUTHWEST PARKWAY · AUSTIN, TX 78735	Investment Mgmt Fees	$2,332

Plan features & details

Pension benefit codes2E2F2G2J2R3D

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.
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

3 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.
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$107K

$106966 / participant

Trustee / custodial$8K7.6%
Investment mgmt$99K92.1%
Other / not subdivided$3310.3%

% of EOY assets

0.213%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PIAKER & LYONS, P.C.
Auditor EIN: 161152552
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$10,063,451

$160,040+6188.1%

$147,096+6741.4%

$145,877+6798.6%

Participation rate

100.0%

84.0%+16.0pp

82.2%+17.8pp

80.3%+19.7pp

Annual return

14.31%

98.49%-84.2pp

419.75%-405.4pp

551.28%-537.0pp

Employer contribution / active EE

$389,195

$5,289+7258.0%

$4,936+7784.9%

$4,663+8246.5%

Participant deferral / active EE

$1,075,381

$8,429+12658.4%

$8,071+13223.9%

$6,691+15973.1%

Admin fee / account holder

$21,393

$15,050+42.1%

$13,005+64.5%

$13,402+59.6%

Provider

Service type

Compensation

DOUGLASS WINTHROP ADVISORS LLC4 years

Filed as: DOUGLAS WINTHROP ADVISORS, LLC

Service code 51 · EIN 13-4085380

521 FIFTH AVE · NEW YORK, NY 14618

Investment Mgmt Fees

$47,725

JOHN G. ULLMAN & ASSOCIATES, INC.4 years

Filed as: JOHN G. ULLMAN & ASSOCIATES

Service code 64 · EIN 10-1113141

51 EAST MARKET STREET · CORNING, NY 14830

Recordkeeping Fees

$30,200

NBT BANCORP NA4 years

Filed as: NBT WEALTH MANAGAMENT

Service code 64 · EIN 15-0395735

52 SOUTH BROAD STREET · NORWICH, NY 13815

Recordkeeping Fees

$10,042

TRG CAPITAL MANAGEMENT9 years

Service code 51 · EIN 26-1985157

520 COLUMBIA DRIVE · JOHNSON CITY, NY 13790

Investment Mgmt Fees

$8,234

NEWPORT GROUP, INC.6 years

Filed as: NEWPORT GROUP

Service code 15 · EIN 27-2037969

Recordkeeping

$8,102

KESTRA INVESTMENT SERVICES LLC9 years

Filed as: KESTRA ADVISORY SERVICES, LLC

Service code 51 · EIN 35-2552359

5707 SOUTHWEST PARKWAY · AUSTIN, TX 78735

Investment Mgmt Fees

$2,332

HINMAN, HOWARD & KATTELL, LLP PROFIT SHARING PLAN AND TRUST NO. 2

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HINMAN, HOWARD & KATTELL, LLP PROFIT SHARING PLAN AND TRUST NO. 2

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