Retirement plan

HOLMAN MOTORS, INC. 401(K) SAVINGS PLAN

Name: HOLMAN MOTORS, INC. - HOLMAN MOTORS, INC. 401(K) SAVINGS PLAN (2020) Form 5500
Creator: HOLMAN MOTORS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOLMAN MOTORS, INC. 401(K) SAVINGS PLAN, HOLMAN MOTORS, INC.

HOLMAN MOTORS, INC.EIN 31-0921703Plan #001PY 2020

4387 ELICK LANE - BATAVIA, OH 45103513-752-3123holmanbuickgmc.comLinkedIn51-200 employeesautomotive

Prospect flagsHigh feesLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$7.7M

+23.3% from 2019

Total participants

106

-3.6% from 2019

Average account balance

$106,006

+19.9% from 2019

Annual return

16.20%

-4.57 pp from 2019

Benchmarks

See 92 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Cohort92 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.24M

Not enough data

1 years with asset history on file

Average account balance

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

$150K

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.

78.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$608K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+16.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7778

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
OXFORD FINANCIAL GROUP, LTD2 years Filed as: OXFORD FINANCIAL PARTNERS Service code 27 8044 MONTGOMERY ROAD · CINCINNATTI, OH 45236	Advisory (Plan)	$21,137
ASCENSUS LLC2 years Service code 15 · EIN 11-3665754	Recordkeeping	$11,120

Plan features & details

Pension benefit codes2A2E3D2G2J2K2F2T

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$32K

$328 / participant

Investment mgmt$21K65.8%
Contract admin$11K34.2%

% of EOY assets

0.420%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CROWE LLP
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$106,006

$136,791-22.5%

$133,971-20.9%

Participation rate

66.7%

70.8%-4.2pp

79.8%-13.2pp

Annual return

16.20%

9.25%+7.0pp

45.09%-28.9pp

Employer contribution / active EE

$1,039

$2,431-57.3%

$3,919-73.5%

Participant deferral / active EE

$3,966

$3,586+10.6%

$5,047-21.4%

Admin fee / account holder

$445

$8,409-94.7%

$8,929-95.0%

Provider

Service type

Compensation

OXFORD FINANCIAL GROUP, LTD2 years

Filed as: OXFORD FINANCIAL PARTNERS

Service code 27

8044 MONTGOMERY ROAD · CINCINNATTI, OH 45236

Advisory (Plan)

$21,137

ASCENSUS LLC2 years

Service code 15 · EIN 11-3665754

Recordkeeping

$11,120

HOLMAN MOTORS, INC. 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOLMAN MOTORS, INC. 401(K) SAVINGS 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