Retirement plan

40HRS, INC. 401(K) PLAN

Name: 40HRS, INC. - 40HRS, INC. 401(K) PLAN (2023) Form 5500
Creator: 40HRS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 40HRS, INC. 401(K) PLAN, 40HRS, INC.

40HRS, INC.EIN 20-4697122Plan #001PY 2023

1669 FLANIGAN DR. - SAN JOSE, CA 95121408-414-0158

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.8M

+17.0% from 2022

Total participants

-11.5% from 2022

Average account balance

$145,058

+35.5% from 2022

Annual return

13.13%

+30.46 pp from 2022

Benchmarks

See 18,494 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants<25

Cohort18,494 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.02M

Not enough data

1 years with asset history on file

Average account balance

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

$192K

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.

105.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$287K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+14.22%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1294

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$124K

$6537 / participant

Other / not subdivided$124K100.0%

% of EOY assets

4.507%

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

$145,058

$96,361+50.5%

$80,607+80.0%

$139,456+4.0%

Participation rate

78.9%

73.6%+5.3pp

67.0%+11.9pp

80.3%-1.4pp

Annual return

13.13%

1350.95%-1337.8pp

936.11%-923.0pp

373.45%-360.3pp

Employer contribution / active EE

$2,592

$3,262-20.5%

$2,724-4.9%

$4,753-45.5%

Participant deferral / active EE

$8,756

$5,232+67.4%

$4,448+96.9%

$6,711+30.5%

Admin fee / account holder

$6,537

$6,601-1.0%

$5,379+21.5%

$11,407-42.7%

40HRS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

40HRS, INC. 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