Retirement plan

SPRING STREET FINANCIAL SAVINGS PLUS PLAN

Name: MHOC, LLC D/B/A SPRING STREET FINANCIAL - SPRING STREET FINANCIAL SAVINGS PLUS PLAN (2023) Form 5500
Creator: MHOC, LLC D/B/A SPRING STREET FINANCIAL
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPRING STREET FINANCIAL SAVINGS PLUS PLAN, MHOC, LLC D/B/A SPRING STREET FINANCIAL

MHOC, LLC D/B/A SPRING STREET FINANCIALEIN 20-0578601Plan #001PY 2023

1 NORTHWESTERN BLVD - ALBANY, NY 12211518-459-4665

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$936K

+37.0% from 2022

Total participants

-11.5% from 2022

Average account balance

$42,532

+49.5% from 2022

Annual return

20.36%

+39.74 pp from 2022

Benchmarks

See 36,180 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,180 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.19M

Not enough data

1 years with asset history on file

Average account balance

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

$54K

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.

129.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$127K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+14.34%

Not enough data

1 years with return on file

Admin fee / account holder

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

$191

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 codes2E2F2G2J2T3B3D

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$3K

$156 / participant

Other / not subdivided$3K100.0%

% of EOY assets

0.284%

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

$42,532

$185,856-77.1%

$170,028-75.0%

$139,456-69.5%

Participation rate

94.1%

87.8%+6.4pp

87.0%+7.1pp

80.3%+13.8pp

Annual return

20.36%

60.52%-40.2pp

53.39%-33.0pp

373.45%-353.1pp

Employer contribution / active EE

$2,111

$7,593-72.2%

$6,788-68.9%

$4,753-55.6%

Participant deferral / active EE

$4,713

$11,623-59.5%

$10,409-54.7%

$6,711-29.8%

Admin fee / account holder

$121

$15,387-99.2%

$12,820-99.1%

$11,407-98.9%

SPRING STREET FINANCIAL SAVINGS PLUS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPRING STREET FINANCIAL SAVINGS PLUS 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