Retirement plan

HOWARD MILLER-HEKMAN PROFIT SHARING AND 401(K) SAVINGS PLAN

Name: HOWARD MILLER COMPANY - HOWARD MILLER-HEKMAN PROFIT SHARING AND 401(K) SAVINGS PLAN (2021) Form 5500
Creator: HOWARD MILLER COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOWARD MILLER-HEKMAN PROFIT SHARING AND 401(K) SAVINGS PLAN, HOWARD MILLER COMPANY

HOWARD MILLER COMPANYEIN 38-1258662Plan #002PY 2021

860 E. MAIN STREET - ZEELAND, MI 49464616-772-9131howardmiller.comLinkedIn501-1000 employeesfurniture

Other plans on this EIN

1 filing

#001Retirement-$33.6M assets

Prospect flagsHigh retiree %High fees

Top hat statement on fileNQDC

Filed November 24, 2009 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$32.6M

-0.2% from 2020

Total participants

298

0.0% from 2020

Average account balance

$115,454

-0.6% from 2020

Annual return

13.32%

-8.24 pp from 2020

Benchmarks

See 4,054 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,054 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.45M

Not enough data

1 years with asset history on file

Average account balance

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

$168K

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.

104

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.

92.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$810K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+9.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$527

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 6 by compensation

Provider	Service type	Compensation
HUNTINGTON NATIONAL BANK7+ years Filed as: THE HUNTINGTON NATIONAL BANK Service code 27 · EIN 31-0966785	Advisory (Plan)	$32,981
TRANSAMERICA RETIREMENT SOLUTIONS1 year Filed as: TRANSAMERICA RET. SOLUTIONS, LLC Service code 15 · EIN 13-3689044	Recordkeeping	$18,039
HUNTINGTON NATIONAL BANK5 years Filed as: THE HUNTINGTON INVESTMENT COMPANY Service code 22 · EIN 31-1316299	Insurance Broker	$17,534
HUNGERFORD NICHOLS2 years Service code 10 · EIN 38-2184825	Accounting	$9,000
HOWARD MILLER COMPANY1 year Service code 35 · EIN 38-1258662	Employee (plan sponsor)	$8,471
WARNER NORCROSS & JUDD LLP1 year Filed as: WARNER NORCROSS + JUDD LLP Service code 29 · EIN 38-1422647	Legal	$500

Plan features & details

Pension benefit codes2E2F2H2J2K2S

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).
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.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$121K

$605 / participant

Contract admin$121K100.0%

% of EOY assets

0.372%

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: HUNGERFORD NICHOLS
Auditor EIN: 382184825
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$115,454

$84,936+35.9%

$111,303+3.7%

$79,393+45.4%

Participation rate

92.0%

75.9%+16.1pp

77.3%+14.7pp

70.7%+21.3pp

Annual return

13.32%

17.45%-4.1pp

54.66%-41.3pp

116.87%-103.5pp

Employer contribution / active EE

$1,116

$1,979-43.6%

$2,731-59.1%

$2,428-54.0%

Participant deferral / active EE

$3,446

$3,888-11.4%

$4,487-23.2%

$4,046-14.8%

Admin fee / account holder

$429

$537-20.1%

$7,966-94.6%

$627-31.5%

Provider

Service type

Compensation

HUNTINGTON NATIONAL BANK7+ years

Filed as: THE HUNTINGTON NATIONAL BANK

Service code 27 · EIN 31-0966785

Advisory (Plan)

$32,981

TRANSAMERICA RETIREMENT SOLUTIONS1 year

Filed as: TRANSAMERICA RET. SOLUTIONS, LLC

Service code 15 · EIN 13-3689044

Recordkeeping

$18,039

HUNTINGTON NATIONAL BANK5 years

Filed as: THE HUNTINGTON INVESTMENT COMPANY

Service code 22 · EIN 31-1316299

Insurance Broker

$17,534

HUNGERFORD NICHOLS2 years

Service code 10 · EIN 38-2184825

Accounting

$9,000

HOWARD MILLER COMPANY1 year

Service code 35 · EIN 38-1258662

Employee (plan sponsor)

$8,471

WARNER NORCROSS & JUDD LLP1 year

Filed as: WARNER NORCROSS + JUDD LLP

Service code 29 · EIN 38-1422647

Legal

$500

HOWARD MILLER-HEKMAN PROFIT SHARING AND 401(K) SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOWARD MILLER-HEKMAN PROFIT SHARING AND 401(K) SAVINGS PLAN

Top hat statement on fileNQDC

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