Retirement plan

HINMAN, HOWARD & KATTELL, LLP PROFIT SHARING PLAN AND TRUST NO. 1

Name: HINMAN, HOWARD & KATTELL, LLP - HINMAN, HOWARD & KATTELL, LLP PROFIT SHARING PLAN AND TRUST NO. 1 (2020) 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. 1, HINMAN, HOWARD & KATTELL, LLP

HINMAN, HOWARD & KATTELL, LLPEIN 15-0561878Plan #002PY 2020

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

Other plans on this EIN

1 filing

#001Retirement-$40.1M assets

Prospect flagsLow returnsHigh feesHigh cash

How to read this page

Total assets (EOY)

$40.1M

+12.7% from 2019

Total participants

223

0.0% from 2019

Average account balance

$227,642

+10.1% from 2019

Annual return

12.11%

-5.72 pp from 2019

Benchmarks

See 5,591 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,591 peers

Snapshot2020

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)

$247K

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.

204

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

$10K

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)

$524

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 7 by compensation

Provider	Service type	Compensation
KESTRA INVESTMENT SERVICES LLC5 years Filed as: KESTRA ADVISORY SERVICES, LLC Service code 51 · EIN 35-2552359 5707 SOUTHWEST PARKWAY · AUSTIN, TX 78735	Investment Mgmt Fees	$26,779
NEWPORT GROUP, INC.6+ years Filed as: NEWPORT RETIREMENT SERVICES Service code 64 · EIN 62-1868111 13925 BALLANTYNE CORPORATE PLACE · CHARLOTTE, NC 28277	Recordkeeping Fees	$12,695
JPMORGAN INVEST HOLDINGS LLC1 year Filed as: JP MORGAN CHASE Service code 64	Recordkeeping Fees	$11,850
NBT BANCORP NA6+ years Filed as: NBT BANK Service code 64	Recordkeeping Fees	$7,032
TRG CAPITAL MANAGEMENT6+ years Service code 51 · EIN 26-1985157 520 COLUMBIA DRIVE · JOHNSON CITY, NY 13790	Investment Mgmt Fees	$6,288
FEDERATED6+ years Filed as: FEDERATED CLOVER INVESTMENT ADVISOR Service code 51 · EIN 16-1263400 400 MERIDIAN CENTRE BLVD 200 · ROCHESTER, NY 14618	Investment Mgmt Fees	$5,715
FIRST REPUBLIC INVESTMENT MGMT2 years Filed as: FIRST REPUBLIC BANK Service code 64	Recordkeeping Fees	$4,820

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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.

Expense breakdown

Schedule H Part II

Admin total

$76K

$448 / participant

Investment mgmt$75K98.0%
Other / not subdivided$2K2.0%

% of EOY assets

0.190%

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

$227,642

$99,957+127.7%

$149,745+52.0%

$73,497+209.7%

Participation rate

72.4%

75.7%-3.3pp

82.5%-10.1pp

70.7%+1.7pp

Annual return

12.11%

53.87%-41.8pp

276.72%-264.6pp

28.51%-16.4pp

Employer contribution / active EE

$1,530

$3,191-52.0%

$4,646-67.1%

$2,270-32.6%

Participant deferral / active EE

$4,040

$6,073-33.5%

$6,843-41.0%

$3,740+8.0%

Admin fee / account holder

$433

$551-21.4%

$9,312-95.4%

$513-15.6%

Provider

Service type

Compensation

KESTRA INVESTMENT SERVICES LLC5 years

Filed as: KESTRA ADVISORY SERVICES, LLC

Service code 51 · EIN 35-2552359

5707 SOUTHWEST PARKWAY · AUSTIN, TX 78735

Investment Mgmt Fees

$26,779

NEWPORT GROUP, INC.6+ years

Filed as: NEWPORT RETIREMENT SERVICES

Service code 64 · EIN 62-1868111

13925 BALLANTYNE CORPORATE PLACE · CHARLOTTE, NC 28277

Recordkeeping Fees

$12,695

JPMORGAN INVEST HOLDINGS LLC1 year

Filed as: JP MORGAN CHASE

Service code 64

Recordkeeping Fees

$11,850

NBT BANCORP NA6+ years

Filed as: NBT BANK

Service code 64

Recordkeeping Fees

$7,032

TRG CAPITAL MANAGEMENT6+ years

Service code 51 · EIN 26-1985157

520 COLUMBIA DRIVE · JOHNSON CITY, NY 13790

Investment Mgmt Fees

$6,288

FEDERATED6+ years

Filed as: FEDERATED CLOVER INVESTMENT ADVISOR

Service code 51 · EIN 16-1263400

400 MERIDIAN CENTRE BLVD 200 · ROCHESTER, NY 14618

Investment Mgmt Fees

$5,715

FIRST REPUBLIC INVESTMENT MGMT2 years

Filed as: FIRST REPUBLIC BANK

Service code 64

Recordkeeping Fees

$4,820

HINMAN, HOWARD & KATTELL, LLP PROFIT SHARING PLAN AND TRUST NO. 1

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. 1

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