Retirement plan

HI-TEK PROFESSIONAL 401(K) PLAN

Name: HI-TEK PROFESSIONALS, INC. - HI-TEK PROFESSIONAL 401(K) PLAN (2018) Form 5500
Creator: HI-TEK PROFESSIONALS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HI-TEK PROFESSIONAL 401(K) PLAN, HI-TEK PROFESSIONALS, INC.

HI-TEK PROFESSIONALS, INC.EIN 23-2402883Plan #001PY 2018

850 CHESTER PIKE - PROSPECT PARK, PA 19076610-534-8702hitekprofessionals.comLinkedIn201-500 employeesstaffing and recruiting

Prospect flagsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$7.6M

-4.2% from 2017

Total participants

-5.4% from 2017

Average account balance

$104,284

+5.0% from 2017

Annual return

-6.22%

-21.84 pp from 2017

Benchmarks

See 3,933 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants25-99

Cohort3,933 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.32M

Not enough data

1 years with asset history on file

Average account balance

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

$118K

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.

113

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.

86.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.33M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+16.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$26351

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 codes2F2G2J2T3D

Plan features

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.
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

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$842K

$14028 / participant

Other / not subdivided$842K100.0%

% of EOY assets

11.056%

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

$104,284

$42,383+146.1%

$76,518+36.3%

$64,173+62.5%

Participation rate

75.0%

58.1%+16.9pp

68.0%+7.0pp

69.6%+5.4pp

Annual return

-6.22%

-16.54%+10.3pp

-0.27%-6.0pp

7.63%-13.9pp

Employer contribution / active EE

$1,563-100.0%

$2,647-100.0%

$2,381-100.0%

Participant deferral / active EE

$16,716

$2,566+551.3%

$3,836+335.8%

$3,470+381.8%

Admin fee / account holder

$11,530

$3,198+260.5%

$4,849+137.8%

$4,887+135.9%

HI-TEK PROFESSIONAL 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HI-TEK PROFESSIONAL 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