Retirement plan

THE JANET L. HOFFMAN PROFIT SHARING PLAN

Name: JANET HOFFMAN & ASSOCIATES, LLC - THE JANET L. HOFFMAN PROFIT SHARING PLAN (2024) Form 5500
Creator: JANET HOFFMAN & ASSOCIATES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE JANET L. HOFFMAN PROFIT SHARING PLAN, JANET HOFFMAN & ASSOCIATES, LLC

JANET HOFFMAN & ASSOCIATES, LLCEIN 27-2806585Plan #001PY 2024

1000 SW BROADWAY, SUITE 1500 - PORTLAND, OR 97205503-222-1125LinkedIn1-10 employeeslaw practice

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$3.7M

+3.4% from 2023

Total participants

-4.5% from 2023

Average account balance

$176,912

+8.3% from 2023

Annual return

8.66%

-3.12 pp from 2023

Benchmarks

See 143,710 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort143,710 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.72M

Not enough data

1 years with asset history on file

Average account balance

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

$177K

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.

262.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$130K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+8.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$15947

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 codes3D2E2G2F2J2R2T

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$335K

$41862 / participant

Other / not subdivided$335K100.0%

% of EOY assets

9.014%

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

$176,912

$160,040+10.5%

$147,096+20.3%

$145,877+21.3%

Participation rate

100.0%

84.0%+16.0pp

82.2%+17.8pp

80.3%+19.7pp

Annual return

8.66%

98.49%-89.8pp

419.75%-411.1pp

551.28%-542.6pp

Employer contribution / active EE

$4,239

$5,289-19.9%

$4,936-14.1%

$4,663-9.1%

Participant deferral / active EE

$12,027

$8,429+42.7%

$8,071+49.0%

$6,691+79.8%

Admin fee / account holder

$15,947

$15,050+6.0%

$13,005+22.6%

$13,402+19.0%

THE JANET L. HOFFMAN PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE JANET L. HOFFMAN 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