Retirement plan

HIGROUP 401(K) RETIREMENT PLAN & TRUST

Name: THE HAWAII GROUP, INC. - HIGROUP 401(K) RETIREMENT PLAN & TRUST (2021) Form 5500
Creator: THE HAWAII GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HIGROUP 401(K) RETIREMENT PLAN & TRUST, THE HAWAII GROUP, INC.

THE HAWAII GROUP, INC.EIN 27-3129236Plan #001PY 2021

700 BISHOP STREET, SUITE 600 - HONOLULU, HI 96813808-695-2225hawaiiwebgroup.comLinkedIn1-10 employeesmarketing and advertising

Prospect flagsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$2.5M

+24.5% from 2020

Total participants

133

0.0% from 2020

Average account balance

$20,380

+22.5% from 2020

Annual return

13.42%

-68.50 pp from 2020

Benchmarks

See 4,518 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants25-99

Cohort4,518 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.90M

Not enough data

1 years with asset history on file

Average account balance

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

$21K

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.

141

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.

61.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$464K

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

+15.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$349

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 4 by compensation

Provider	Service type	Compensation
THE RYDING COMPANY2 years Service code 15 · EIN 95-3497679	Recordkeeping	$15,949
CW ASSOCIATES1 year Filed as: CW ASSOCAITES Service code 10 · EIN 26-1659234	Accounting	$15,706
TRANSAMERICA RETIREMENT SOLUTIONS2 years Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781	Recordkeeping	$13,505
LPL FINANCIAL2 years Service code 22 · EIN 95-2834236	Insurance Broker	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$45K

$496 / participant

Investment mgmt$44K96.8%
Contract admin$1K3.2%

% of EOY assets

1.802%

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: CW ASSOCIATES
Auditor EIN: 261659234
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$20,380

$56,134-63.7%

$96,171-78.8%

$85,847-76.3%

Participation rate

89.0%

56.7%+32.3pp

68.4%+20.6pp

69.3%+19.7pp

Annual return

13.42%

42.30%-28.9pp

192.04%-178.6pp

318.61%-305.2pp

Employer contribution / active EE

$2,009

$1,620+24.0%

$2,799-28.2%

$2,565-21.7%

Participant deferral / active EE

$3,853

$2,858+34.8%

$4,350-11.4%

$3,952-2.5%

Admin fee / account holder

$367

$3,769-90.3%

$5,538-93.4%

$6,261-94.1%

Provider

Service type

Compensation

THE RYDING COMPANY2 years

Service code 15 · EIN 95-3497679

Recordkeeping

$15,949

CW ASSOCIATES1 year

Filed as: CW ASSOCAITES

Service code 10 · EIN 26-1659234

Accounting

$15,706

TRANSAMERICA RETIREMENT SOLUTIONS2 years

Filed as: TRANSAMERICA LIFE INSURANCE COMPANY

Service code 15 · EIN 39-0989781

Recordkeeping

$13,505

LPL FINANCIAL2 years

Service code 22 · EIN 95-2834236

Insurance Broker

HIGROUP 401(K) RETIREMENT PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HIGROUP 401(K) RETIREMENT PLAN & TRUST

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