Retirement plan

FEDERATED HERMES, INC. EMPLOYEES PROFIT SHARING / 401(K) PLAN

Name: FEDERATED HERMES, INC. - FEDERATED HERMES, INC. EMPLOYEES PROFIT SHARING / 401(K) PLAN (2023) Form 5500
Creator: FEDERATED HERMES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FEDERATED HERMES, INC. EMPLOYEES PROFIT SHARING / 401(K) PLAN, FEDERATED HERMES, INC.

FEDERATED HERMES, INC.EIN 25-1111467Plan #001PY 2023

1001 LIBERTY AVENUE, FEDERATED INVESTORS TOWER - PITTSBURGH, PA 15222412-288-4418federatedhermes.comLinkedIn1001-5000 employeesfinancial services

Prospect flagsLow returnsHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$608.1M

-7.1% from 2016

Total participants

1,930

-4.5% from 2016

Average account balance

$330,130

-6.6% from 2016

Annual return

14.40%

-7.35 pp from 2016

Benchmarks

See 577 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort577 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$693.52M

Not enough data

1 years with asset history on file

Average account balance

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

$374K

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.

1,855

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.

94.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$25.12M

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

+17.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$129

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$141,595
GYL FINANCIAL SYNERGIES1 year Filed as: GYL FINANCIAL SYNERGIES, LLC Service code 70 · EIN 81-3263476 75 ISHAM RD · WEST HARTFORD, CA 06107	Consulting Fees	$65,000
SCHNEIDER DOWNS & CO., INC.3 years Filed as: SCHNEIDER DOWNS Service code 10 · EIN 25-1408703 ONE PPG PLAZA · PISSBURGH, PA 15222	Accounting	$33,098
CHARLES SCHWAB & CO., INC.6 years Filed as: CHARLES SCHWAB & COMPANY Service code 71 · EIN 94-1737782 241 MAIN STREET · SAN FRANCISCO, CA 941051965	Brokerage Fees	$6,180
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB & CO. INC Service code 71	Brokerage Fees	$0

Plan features & details

Pension benefit codes2E2G2J2K2F2T

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.
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.
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.

Opportunity flags

3 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$174K

$122 / participant

Contract admin$141K81.4%
Other / not subdivided$32K18.6%

% of EOY assets

0.029%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SCHNEIDER DOWNS
Auditor EIN: 251408703
Audit fees: $32,367
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$330,130

$112,711+192.9%

$170,055+94.1%

$80,187+311.7%

Participation rate

93.8%

87.4%+6.4pp

87.0%+6.8pp

72.9%+20.9pp

Annual return

14.40%

67.06%-52.7pp

53.43%-39.0pp

40.40%-26.0pp

Employer contribution / active EE

$4,923

$4,488+9.7%

$6,790-27.5%

$2,980+65.2%

Participant deferral / active EE

$11,884

$7,861+51.2%

$10,410+14.2%

$5,016+136.9%

Admin fee / account holder

$94

$99-5.1%

$12,828-99.3%

$145-34.9%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$141,595

GYL FINANCIAL SYNERGIES1 year

Filed as: GYL FINANCIAL SYNERGIES, LLC

Service code 70 · EIN 81-3263476

75 ISHAM RD · WEST HARTFORD, CA 06107

Consulting Fees

$65,000

SCHNEIDER DOWNS & CO., INC.3 years

Filed as: SCHNEIDER DOWNS

Service code 10 · EIN 25-1408703

ONE PPG PLAZA · PISSBURGH, PA 15222

Accounting

$33,098

CHARLES SCHWAB & CO., INC.6 years

Filed as: CHARLES SCHWAB & COMPANY

Service code 71 · EIN 94-1737782

241 MAIN STREET · SAN FRANCISCO, CA 941051965

Brokerage Fees

$6,180

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB & CO. INC

Service code 71

Brokerage Fees

FEDERATED HERMES, INC. EMPLOYEES PROFIT SHARING / 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FEDERATED HERMES, INC. EMPLOYEES PROFIT SHARING / 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