Retirement plan

HGR INDUSTRIAL SURPLUS, INC. 401(K) P/S PLAN

Name: HGR INDUSTRIAL SURPLUS - HGR INDUSTRIAL SURPLUS, INC. 401(K) P/S PLAN (2022) Form 5500
Creator: HGR INDUSTRIAL SURPLUS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HGR INDUSTRIAL SURPLUS, INC. 401(K) P/S PLAN, HGR INDUSTRIAL SURPLUS

HGR INDUSTRIAL SURPLUSEIN 34-1861802Plan #001PY 2022

C/OJEOFFREY BURTCH CHAPTER 7TRUSTEE, 919 N. MARKET STREET, SUITE 460 - WILMINGTON, DE 19801302-472-7427

Prospect flagsLow participationLow assets / participantRecently reached 100 employeesFailed to transmit contributions

How to read this page

Total assets (EOY)

$3.1M

-9.2% from 2021

Total participants

168

+25.4% from 2021

Average account balance

$26,153

-32.5% from 2021

Annual return

-16.85%

-33.71 pp from 2021

Benchmarks

See 2,290 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,290 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-2.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

Top 4 by compensation

Provider	Service type	Compensation
PAI1 year Service code 12 1201 ENTERPRISE DRIVE · DEPERE, WI 54115	Participant loan processing; Claims p...	$16,170
GARNETT RETIREMENT GROUP1 year Service code 27 3438 E LAKE RD. STE. 14 · PALM HARBOR, FL 34685	Advisory (Plan)	$12,234
CLEVELAND HAUSWIRTH INVESTMENT MGMT1 year Filed as: CLEVELAND RETIREMENT PLANNING Service code 27 1991 CROCKER RD · WESTLAKE, OH 44145	Advisory (Plan)	$8,746
PAI1 year Filed as: PAI TRUST Service code 19 3904 W. TECHNOLOGY CIRCLE · SIOUX FALLS, SD 57106	Securities Custodian	$1,749

Plan features & details

Pension benefit codes2S2E3D2G2J2K2F2T3H

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$20K

$153 / participant

Contract admin$20K100.0%

% of EOY assets

0.664%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SEE ATTACHED REASONABLE CAUSE
Auditor EIN: 341861802
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$26,153

$86,655-69.8%

$119,622-78.1%

$66,938-60.9%

Participation rate

61.7%

75.6%-13.9pp

79.3%-17.6pp

69.8%-8.2pp

Annual return

-16.85%

-8.00%-8.9pp

-14.98%-1.9pp

1.58%-18.4pp

Employer contribution / active EE

$2,536-100.0%

$4,232-100.0%

$2,545-100.0%

Participant deferral / active EE

$2,722

$4,358-37.6%

$5,601-51.4%

$4,238-35.8%

Admin fee / account holder

$174

$755-77.0%

$10,328-98.3%

$594-70.7%

Provider

Service type

Compensation

PAI1 year

Service code 12

1201 ENTERPRISE DRIVE · DEPERE, WI 54115

Participant loan processing; Claims p...

$16,170

GARNETT RETIREMENT GROUP1 year

Service code 27

3438 E LAKE RD. STE. 14 · PALM HARBOR, FL 34685

Advisory (Plan)

$12,234

CLEVELAND HAUSWIRTH INVESTMENT MGMT1 year

Filed as: CLEVELAND RETIREMENT PLANNING

Service code 27

1991 CROCKER RD · WESTLAKE, OH 44145

Advisory (Plan)

$8,746

PAI1 year

Filed as: PAI TRUST

Service code 19

3904 W. TECHNOLOGY CIRCLE · SIOUX FALLS, SD 57106

Securities Custodian

$1,749

HGR INDUSTRIAL SURPLUS, INC. 401(K) P/S PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HGR INDUSTRIAL SURPLUS, INC. 401(K) P/S 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