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 (2015) 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 2015

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

Other plans on this EIN

1 filing

#002Retirement-$25.8M assets

Prospect flagsHigh retiree %High feesHigh cashHigh assets / participant

How to read this page

Total assets (EOY)

$25.8M

No prior year

Total participants

No prior year

Average account balance

$2,580,479

No prior year

Annual return

-1.70%

No prior year

Benchmarks

See 103,910 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort103,910 peers

Snapshot2015

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 4 by compensation

Provider	Service type	Compensation
NFP RETIREMENT INC1+ years Filed as: NFP ADVISOR SERVICES Service code 14 1405 DAVIS AVENUE · ENDWELL, NY 13760	Plan Administrator	$21,103
FEDERATED1+ years Filed as: FEDERATED CLOVER INVESTMENT ADVISOR Service code 51 · EIN 16-1263400 400 MERIDIAN CENTRE BLVD 200 · ROCHESTER, NY 14618	Investment Mgmt Fees	$18,102
FIDELITY INVESTMENTS INSTITUTIONAL1+ years Filed as: FIDELITY INVESTMENTS Service code 53 900 SALEM STREET · SMITHFIELD, RI 02917	Insurance Commissions	$4,747
NEWPORT GROUP, INC.1+ years Filed as: NEWPORT RETIREMENT SERVICES Service code 64 · EIN 62-1868111 13925 BALLANTYNE CORPORATE PLACE · CHARLOTTE, NC 28277	Recordkeeping Fees	$3,764

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

4 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
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

$84K

$13951 / participant

Investment mgmt$83K98.9%
Other / not subdivided$9291.1%

% of EOY assets

0.324%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$2,580,479

$127,386+1925.7%

$115,037+2143.2%

$125,388+1958.0%

Participation rate

100.0%

84.2%+15.8pp

81.4%+18.6pp

83.2%+16.8pp

Annual return

-1.70%

31.28%-33.0pp

26.14%-27.8pp

282.24%-283.9pp

Employer contribution / active EE

$41,386

$5,166+701.1%

$4,608+798.2%

$4,866+750.5%

Participant deferral / active EE

$96,600

$6,423+1404.0%

$6,026+1502.9%

$5,352+1705.1%

Admin fee / account holder

$8,371

$9,516-12.0%

$8,175+2.4%

$9,541-12.3%

Provider

Service type

Compensation

NFP RETIREMENT INC1+ years

Filed as: NFP ADVISOR SERVICES

Service code 14

1405 DAVIS AVENUE · ENDWELL, NY 13760

Plan Administrator

$21,103

FEDERATED1+ years

Filed as: FEDERATED CLOVER INVESTMENT ADVISOR

Service code 51 · EIN 16-1263400

400 MERIDIAN CENTRE BLVD 200 · ROCHESTER, NY 14618

Investment Mgmt Fees

$18,102

FIDELITY INVESTMENTS INSTITUTIONAL1+ years

Filed as: FIDELITY INVESTMENTS

Service code 53

900 SALEM STREET · SMITHFIELD, RI 02917

Insurance Commissions

$4,747

NEWPORT GROUP, INC.1+ years

Filed as: NEWPORT RETIREMENT SERVICES

Service code 64 · EIN 62-1868111

13925 BALLANTYNE CORPORATE PLACE · CHARLOTTE, NC 28277

Recordkeeping Fees

$3,764

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