Retirement plan

HBS SOLUTIONS, INC. 401(K) PROFIT SHARING PLAN

Name: HBS SOLUTIONS, INC. - HBS SOLUTIONS, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: HBS SOLUTIONS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HBS SOLUTIONS, INC. 401(K) PROFIT SHARING PLAN, HBS SOLUTIONS, INC.

HBS SOLUTIONS, INC.EIN 27-1468661Plan #001PY 2024

3169 BRAVERTON ST STE 101 - EDGEWATER, MD 210372679240-476-7306hbssolutionsinc.comLinkedIn1-10 employeesfacilities services

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$343K

+67.1% from 2023

Total participants

+120.0% from 2023

Average account balance

$42,867

-37.3% from 2023

Annual return

15.64%

-5.40 pp from 2023

Benchmarks

See 143,561 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort143,561 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$343K

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

38.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$106K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+15.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$525

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 codes2E2F2G2J2T3D

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.
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

3 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.)
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

$4K

$200 / participant

Other / not subdivided$4K100.0%

% of EOY assets

1.226%

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

$42,867

$160,028-73.2%

$147,080-70.9%

$145,884-70.6%

Participation rate

33.3%

84.0%-50.7pp

82.2%-48.8pp

80.3%-47.0pp

Annual return

15.64%

98.60%-83.0pp

420.17%-404.5pp

551.85%-536.2pp

Employer contribution / active EE

$1,485

$5,286-71.9%

$4,933-69.9%

$4,662-68.1%

Participant deferral / active EE

$3,545

$8,422-57.9%

$8,066-56.0%

$6,690-47.0%

Admin fee / account holder

$525

$15,030-96.5%

$12,989-96.0%

$13,392-96.1%

HBS SOLUTIONS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HBS SOLUTIONS, INC. 401(K) PROFIT SHARING 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