Retirement plan

HERITAGE FINANCIAL GROUP, INC. 401K PLAN AND TRUST

Name: HERITAGE FINANCIAL GROUP, INC. - HERITAGE FINANCIAL GROUP, INC. 401K PLAN AND TRUST (2017) Form 5500
Creator: HERITAGE FINANCIAL GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HERITAGE FINANCIAL GROUP, INC. 401K PLAN AND TRUST, HERITAGE FINANCIAL GROUP, INC.

HERITAGE FINANCIAL GROUP, INC.EIN 35-1517239Plan #001PY 2017

120 W. LEXINGTON - ELKHART, IN 46516574-522-8000mhcomm.comLinkedIn201-500 employeesreal estate

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$11.8M

+21.3% from 2016

Total participants

218

+3.3% from 2016

Average account balance

$63,917

+27.2% from 2016

Annual return

18.39%

+9.13 pp from 2016

Benchmarks

See 939 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants100-249

Cohort939 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.54M

Not enough data

1 years with asset history on file

Average account balance

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

$183K

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.

112

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.

92.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$676K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+16.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$861

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
LAKE CITY BANK3+ years Service code 21 · EIN 35-0458180	Bank Trustee	$25,171
ASCENSUS LLC3+ years Filed as: ASCENSUS CONSULTING Service code 13 · EIN 11-3665754	Contract Administrator	$15,892
CORNERSTONE CPA GROUP3+ years Filed as: CORNERSTONE CPA GROUP LLP Service code 10 · EIN 47-1854716	Accounting	$9,650
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB BANK Service code 25 · EIN 42-1558009	Directed Trustee	$6,215

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

1 tripped

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

$57K

$288 / participant

Investment mgmt$25K44.2%
Contract admin$8K14.3%
Other / not subdivided$24K41.5%

% of EOY assets

0.481%

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: CORNERSTONE CPA GROUP LLP
Auditor EIN: 471854716
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$63,917

$52,639+21.4%

$185,117-65.5%

$62,293+2.6%

Participation rate

83.3%

63.9%+19.5pp

77.3%+6.1pp

69.5%+13.8pp

Annual return

18.39%

19.57%-1.2pp

40.50%-22.1pp

28.90%-10.5pp

Employer contribution / active EE

$1,514

$1,483+2.1%

$4,182-63.8%

$2,042-25.8%

Participant deferral / active EE

$2,746

$3,097-11.3%

$5,045-45.6%

$3,169-13.3%

Admin fee / account holder

$308

$374-17.6%

$8,159-96.2%

$479-35.8%

Provider

Service type

Compensation

LAKE CITY BANK3+ years

Service code 21 · EIN 35-0458180

Bank Trustee

$25,171

ASCENSUS LLC3+ years

Filed as: ASCENSUS CONSULTING

Service code 13 · EIN 11-3665754

Contract Administrator

$15,892

CORNERSTONE CPA GROUP3+ years

Filed as: CORNERSTONE CPA GROUP LLP

Service code 10 · EIN 47-1854716

Accounting

$9,650

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB BANK

Service code 25 · EIN 42-1558009

Directed Trustee

$6,215

HERITAGE FINANCIAL GROUP, INC. 401K PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HERITAGE FINANCIAL GROUP, INC. 401K PLAN AND 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