Retirement plan

HOUSE OF OPTICAL, INC 401(K) SHARING PLAN & TRUST

Name: HOUSE OF OPTICAL, INC - HOUSE OF OPTICAL, INC 401(K) SHARING PLAN & TRUST (2020) Form 5500
Creator: HOUSE OF OPTICAL, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOUSE OF OPTICAL, INC 401(K) SHARING PLAN & TRUST, HOUSE OF OPTICAL, INC

HOUSE OF OPTICAL, INCEIN 38-1852154Plan #001PY 2020

250 EAST 14 MILE ROAD - CLAWSON, MI 48017248-435-3400houseofoptical.comLinkedIn11-50 employeesmedical practice

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$1.1M

-3.5% from 2019

Total participants

+4.8% from 2019

Average account balance

$98,865

+14.0% from 2019

Annual return

11.57%

-8.32 pp from 2019

Benchmarks

See 102,091 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort102,091 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.75M

Not enough data

1 years with asset history on file

Average account balance

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

$135K

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.

50.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$79K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+24.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1168

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 codes2E2F2G2J2T3D

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.
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

2 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.)

Expense breakdown

Schedule H Part II

Admin total

$242K

$10992 / participant

Other / not subdivided$242K100.0%

% of EOY assets

22.237%

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

$98,865

$209,422-52.8%

$178,503-44.6%

$158,982-37.8%

Participation rate

50.0%

86.4%-36.4pp

81.9%-31.9pp

82.0%-32.0pp

Annual return

11.57%

188.81%-177.2pp

151.12%-139.6pp

302.99%-291.4pp

Employer contribution / active EE

$5,707-100.0%

$5,011-100.0%

$4,763-100.0%

Participant deferral / active EE

$3,069

$5,955-48.5%

$5,202-41.0%

$5,983-48.7%

Admin fee / account holder

$21,984

$17,079+28.7%

$13,987+57.2%

$11,252+95.4%

HOUSE OF OPTICAL, INC 401(K) SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOUSE OF OPTICAL, INC 401(K) SHARING PLAN & 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