Retirement plan

HALL DRIVE INS, INC. 401(K) RETIREMENT PLAN

Name: HALL DRIVE INS, INC. - HALL DRIVE INS, INC. 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: HALL DRIVE INS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HALL DRIVE INS, INC. 401(K) RETIREMENT PLAN, HALL DRIVE INS, INC.

HALL DRIVE INS, INC.EIN 35-0856802Plan #001PY 2022

216 HIGHWAY 930 W. - NEW HAVEN, IN 46774260-493-3522LinkedIn201-500 employeesrestaurants

Prospect flagsHigh feesLow participationLow participant contribution

How to read this page

Total assets (EOY)

$3.3M

-18.4% from 2021

Total participants

333

+26.6% from 2021

Average account balance

$71,652

-4.2% from 2021

Annual return

-14.30%

-29.13 pp from 2021

Benchmarks

See 788 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants250-999

Cohort788 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.92M

Not enough data

1 years with asset history on file

Average account balance

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

$81K

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.

14.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$93K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$372

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

+8.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$31320

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 2 by compensation

Provider	Service type	Compensation
PHILLIPS FINANCIAL MANAGEMENT LLC8+ years Filed as: PHILLIPS FINANCIAL MANAGEMENT, LLC Service code 26 6920 POINTE INVERNESS WAY, STE 230 · FORT WAYNE, IN 46804	Advisory (Participants)	$14,163
DULIN, WARD & DEWALD, INC.8+ years Service code 10 9921 DUPONT CIR DR W, STE 300 · FORT WAYNE, IN 46825	Accounting	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D2T

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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant 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.)

Expense breakdown

Schedule H Part II

Admin total

$17K

$51 / participant

Investment mgmt$14K85.1%
Contract admin$9545.7%
Other / not subdivided$2K9.2%

% of EOY assets

0.505%

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: DULIN, WARD & DEWALD, INC.
Auditor EIN: 351344820
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$71,652

$30,107+138.0%

$61,452+16.6%

$64,819+10.5%

Participation rate

12.0%

36.4%-24.4pp

52.6%-40.6pp

71.5%-59.5pp

Annual return

-14.30%

-13.99%-0.3pp

338.96%-353.3pp

32.84%-47.1pp

Employer contribution / active EE

$537-100.0%

$1,160-100.0%

$2,507-100.0%

Participant deferral / active EE

$264

$1,126-76.5%

$2,125-87.6%

$4,311-93.9%

Admin fee / account holder

$362

$148+144.1%

$2,131-83.0%

$188+92.7%

Provider

Service type

Compensation

PHILLIPS FINANCIAL MANAGEMENT LLC8+ years

Filed as: PHILLIPS FINANCIAL MANAGEMENT, LLC

Service code 26

6920 POINTE INVERNESS WAY, STE 230 · FORT WAYNE, IN 46804

Advisory (Participants)

$14,163

DULIN, WARD & DEWALD, INC.8+ years

Service code 10

9921 DUPONT CIR DR W, STE 300 · FORT WAYNE, IN 46825

Accounting

HALL DRIVE INS, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HALL DRIVE INS, INC. 401(K) RETIREMENT 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