Retirement plan

HOPE BUILDERS GROUP, INC 401(K) PLAN

Name: HOPE BUILDERS GROUP, INC. - HOPE BUILDERS GROUP, INC 401(K) PLAN (2024) Form 5500
Creator: HOPE BUILDERS GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOPE BUILDERS GROUP, INC 401(K) PLAN, HOPE BUILDERS GROUP, INC.

HOPE BUILDERS GROUP, INC.EIN 35-1748754Plan #001PY 2024

22600 STATE ROAD 120 - ELKHART, IN 46516574-293-5524LinkedIn1-10 employees

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$194K

+49.3% from 2023

Total participants

+55.6% from 2023

Average account balance

$19,354

+34.4% from 2023

Annual return

12.52%

-12.71 pp from 2023

Benchmarks

See 54,761 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort54,761 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$194K

Not enough data

1 years with asset history on file

Average account balance

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

$19K

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.

90.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$64K

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

+12.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1706

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2F2G2H2S2T3D

Plan features

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.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$17K

$1551 / participant

Other / not subdivided$17K100.0%

% of EOY assets

8.815%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$19,354

$110,410-82.5%

$102,437-81.1%

$145,897-86.7%

Participation rate

63.6%

77.9%-14.3pp

74.5%-10.9pp

80.3%-16.7pp

Annual return

12.52%

24.85%-12.3pp

24.95%-12.4pp

552.29%-539.8pp

Employer contribution / active EE

$2,021

$4,217-52.1%

$3,871-47.8%

$4,663-56.7%

Participant deferral / active EE

$3,807

$5,622-32.3%

$5,060-24.8%

$6,689-43.1%

Admin fee / account holder

$1,706

$9,745-82.5%

$8,388-79.7%

$13,390-87.3%

HOPE BUILDERS GROUP, INC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOPE BUILDERS GROUP, INC 401(K) 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