Retirement plan

HCTEC PARTNERS 401(K) PLAN

Name: HCTEC PARTNERS - HCTEC PARTNERS 401(K) PLAN (2022) Form 5500
Creator: HCTEC PARTNERS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HCTEC PARTNERS 401(K) PLAN, HCTEC PARTNERS

HCTEC PARTNERSEIN 27-1702813Plan #001PY 2022

2 MARYLAND FARMS, SUITE 300 - BRENTWOOD, TN 37027615-577-4030

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$7.1M

-10.7% from 2021

Total participants

601

+14.7% from 2021

Average account balance

$21,763

-12.4% from 2021

Annual return

-16.88%

-35.08 pp from 2021

Benchmarks

See 780 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants250-999

Cohort780 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.37M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

311

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.

34.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.41M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+17.47%

Not enough data

1 years with return on file

Admin fee / account holder

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

$284

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 3 by compensation

Provider	Service type	Compensation
GLOBAL RETIREMENT PARTNERS LLC2 years Filed as: GLOBAL RETIREMENT PARTNERS Service code 26 · EIN 47-1411118	Advisory (Participants)	$20,841
JOHN HANCOCK LIFE INSURANCE COMPANY6 years Filed as: JOHN HANCOCK LIFE INSURANCE CO. Service code 15 · EIN 01-0233346	Recordkeeping	$1,289
WELLS FARGO BANK, N.A.6 years Filed as: WELLS FARGO ADVISORS LLC Service code 26 · EIN 34-1542819	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$70K

$177 / participant

Investment mgmt$21K29.8%
Contract admin$49K70.2%

% of EOY assets

0.993%

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: LBMC, PC
Auditor EIN: 621199757
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$21,763

$34,634-37.2%

$77,096-71.8%

$64,819-66.4%

Participation rate

30.1%

49.8%-19.8pp

67.9%-37.9pp

71.5%-41.4pp

Annual return

-16.88%

-5.31%-11.6pp

42.35%-59.2pp

32.84%-49.7pp

Employer contribution / active EE

$453

$1,385-67.3%

$2,814-83.9%

$2,507-81.9%

Participant deferral / active EE

$2,902

$2,553+13.7%

$4,429-34.5%

$4,311-32.7%

Admin fee / account holder

$216

$178+21.1%

$5,428-96.0%

$188+15.0%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC2 years

Filed as: GLOBAL RETIREMENT PARTNERS

Service code 26 · EIN 47-1411118

Advisory (Participants)

$20,841

JOHN HANCOCK LIFE INSURANCE COMPANY6 years

Filed as: JOHN HANCOCK LIFE INSURANCE CO.

Service code 15 · EIN 01-0233346

Recordkeeping

$1,289

WELLS FARGO BANK, N.A.6 years

Filed as: WELLS FARGO ADVISORS LLC

Service code 26 · EIN 34-1542819

Advisory (Participants)

HCTEC PARTNERS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HCTEC PARTNERS 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