Retirement plan

HANWHA VISION AMERICA RETIREMENT PLAN

Name: HANWHA VISION AMERICA, INC. - HANWHA VISION AMERICA RETIREMENT PLAN (2024) Form 5500
Creator: HANWHA VISION AMERICA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HANWHA VISION AMERICA RETIREMENT PLAN, HANWHA VISION AMERICA, INC.

HANWHA VISION AMERICA, INC.EIN 22-3015117Plan #001PY 2024

100 CHALLENGER ROAD, STE 700 - RIDGEFIELD PARK, NJ 07660201-325-6920hanwhatechwin.comLinkedIn201-500 employeessecurity and investigations

Prospect flagsHigh feesLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$22.1M

+28.1% from 2023

Total participants

408

+17.2% from 2023

Average account balance

$77,605

+7.4% from 2023

Annual return

24.13%

-4.40 pp from 2023

Benchmarks

See 1,404 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,404 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$22.12M

Not enough data

1 years with asset history on file

Average account balance

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

$78K

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.

285

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.

67.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.57M

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

+24.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$507

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 8 by compensation

Provider	Service type	Compensation
ORENDA RETIREMENT, LLC5 years Filed as: ORENDA RETIREMENT LLC Service code 13 · EIN 36-4877979	Contract Administrator	$81,019
PRINCIPAL LIFE INSURANCE COMPANY5 years Service code 13 · EIN 42-0127290	Contract Administrator	$59,524
SBHU LIFE AGENCY INC1 year Service code 49	Other Services	$16,151
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY Service code 27 · EIN 20-8764829	Advisory (Plan)	$11,871
VOYA RETIREMENT INSURANCE & ANNUITY5 years Filed as: VOYA FINANCIAL ADVISORS INC Service code 49 · EIN 41-0945505	Other Services	$6,976
MORNINGSTAR3 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381	Advisory (Participants)	$0
SBHI LIFE AGENCY INC1 year Service code 49 · EIN 13-2896238	Other Services	$0
WILSHIRE ASSOCIATES INCORPORATED5 years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$145K

$386 / participant

Investment mgmt$12K8.2%
Contract admin$100K69.3%
Other / not subdivided$33K22.5%

% of EOY assets

0.654%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: TRAILBREAKER ACCOUNTING PLLC
Auditor EIN: 393265760
Audit fees: $32,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$77,605

$89,435-13.2%

$164,975-53.0%

$77,714-0.1%

Participation rate

67.2%

78.6%-11.4pp

70.6%-3.4pp

Annual return

24.13%

28.82%-4.7pp

70.12%-46.0pp

31.26%-7.1pp

Employer contribution / active EE

$2,057

$2,563-19.7%

$4,343-52.6%

$2,727-24.6%

Participant deferral / active EE

$7,463

$4,901+52.3%

$6,033+23.7%

$4,649+60.5%

Admin fee / account holder

$507

$340+49.4%

$12,688-96.0%

$433+17.1%

Provider

Service type

Compensation

ORENDA RETIREMENT, LLC5 years

Filed as: ORENDA RETIREMENT LLC

Service code 13 · EIN 36-4877979

Contract Administrator

$81,019

PRINCIPAL LIFE INSURANCE COMPANY5 years

Service code 13 · EIN 42-0127290

Contract Administrator

$59,524

SBHU LIFE AGENCY INC1 year

Service code 49

Other Services

$16,151

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY

Service code 27 · EIN 20-8764829

Advisory (Plan)

$11,871

VOYA RETIREMENT INSURANCE & ANNUITY5 years

Filed as: VOYA FINANCIAL ADVISORS INC

Service code 49 · EIN 41-0945505

Other Services

$6,976

MORNINGSTAR3 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26 · EIN 36-4317381

Advisory (Participants)

SBHI LIFE AGENCY INC1 year

Service code 49 · EIN 13-2896238

Other Services

WILSHIRE ASSOCIATES INCORPORATED5 years

Service code 27 · EIN 95-2755361

Advisory (Plan)

HANWHA VISION AMERICA RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HANWHA VISION AMERICA RETIREMENT 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