Retirement plan

HEAT N SWEEP 401(K) AND PROFIT SHARING PLAN

Name: HEAT N SWEEP - HEAT N SWEEP 401(K) AND PROFIT SHARING PLAN (2024) Form 5500
Creator: HEAT N SWEEP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HEAT N SWEEP 401(K) AND PROFIT SHARING PLAN, HEAT N SWEEP

HEAT N SWEEPEIN 38-2279791Plan #001PY 2024

2041 W. GRAND RIVER - OKEMOS, MI 488641706517-349-2555heatnsweep.comLinkedIn11-50 employeesretail

Prospect flagsHigh feesHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$2.9M

+13.9% from 2023

Total participants

+10.0% from 2023

Average account balance

$260,287

+3.6% from 2023

Annual return

14.55%

-6.92 pp from 2023

Benchmarks

See 1,380 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants<25

Cohort1,380 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.25M

Not enough data

1 years with asset history on file

Average account balance

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

$296K

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.

137.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$123K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+13.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11380

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 codes2E2F2G2J3D2T

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

3 tripped

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).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$179K

$25600 / participant

Other / not subdivided$179K100.0%

% of EOY assets

6.259%

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

$260,287

$173,397+50.1%

$135,987+91.4%

$145,978+78.3%

Participation rate

100.0%

80.4%+19.6pp

76.4%+23.6pp

80.3%+19.7pp

Annual return

14.55%

1165.22%-1150.7pp

579.77%-565.2pp

550.52%-536.0pp

Employer contribution / active EE

$11,612

$5,281+119.9%

$4,214+175.6%

$4,662+149.1%

Participant deferral / active EE

$11,680

$8,710+34.1%

$7,027+66.2%

$6,690+74.6%

Admin fee / account holder

$16,291

$9,663+68.6%

$6,716+142.6%

$13,400+21.6%

HEAT N SWEEP 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HEAT N SWEEP 401(K) AND PROFIT SHARING 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