Retirement plan

HEWITT YOUNG ELECTRIC, LLC 401(K) PLAN

Name: HEWITT YOUNG ELECTRIC, LLC - HEWITT YOUNG ELECTRIC, LLC 401(K) PLAN (2024) Form 5500
Creator: HEWITT YOUNG ELECTRIC, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HEWITT YOUNG ELECTRIC, LLC 401(K) PLAN, HEWITT YOUNG ELECTRIC, LLC

HEWITT YOUNG ELECTRIC, LLCEIN 20-0354441Plan #001PY 2024

645 MAPLE STREET - ROCHESTER, NY 14611585-288-4480LinkedIn1-10 employeeselectrical/electronic manufacturing

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.6M

+14.9% from 2023

Total participants

-28.0% from 2023

Average account balance

$99,101

+79.5% from 2023

Annual return

9.94%

-14.76 pp from 2023

Benchmarks

See 23,882 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,882 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.99M

Not enough data

1 years with asset history on file

Average account balance

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

$95K

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.

95.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$167K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+15.19%

Not enough data

1 years with return on file

Admin fee / account holder

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

$328

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 codes2E2F2G2J3D

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.

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

$41K

$3126 / participant

Other / not subdivided$41K100.0%

% of EOY assets

2.563%

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

$99,101

$166,131-40.3%

$164,975-39.9%

$145,877-32.1%

Participation rate

84.6%

82.0%+2.6pp

78.6%+6.0pp

80.3%+4.3pp

Annual return

9.94%

100.37%-90.4pp

70.12%-60.2pp

551.28%-541.3pp

Employer contribution / active EE

$2,558

$5,276-51.5%

$4,343-41.1%

$4,663-45.1%

Participant deferral / active EE

$5,802

$6,962-16.7%

$6,033-3.8%

$6,691-13.3%

Admin fee / account holder

$2,540

$16,648-84.7%

$12,688-80.0%

$13,402-81.0%

HEWITT YOUNG ELECTRIC, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HEWITT YOUNG ELECTRIC, LLC 401(K) 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