Retirement plan

HOVINGH CONCRETE, INC. 401(K) PROFIT SHARING PLAN

Name: HOVINGH CONCRETE, INC. - HOVINGH CONCRETE, INC. 401(K) PROFIT SHARING PLAN (2016) Form 5500
Creator: HOVINGH CONCRETE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOVINGH CONCRETE, INC. 401(K) PROFIT SHARING PLAN, HOVINGH CONCRETE, INC.

HOVINGH CONCRETE, INC.EIN 38-3254543Plan #001PY 2016

2285 PINE RIDGE DR. - JENISON, MI 49428616-662-0687hovinghconcrete.comLinkedIn1-10 employeeshospitality

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.3M

No prior year

Total participants

No prior year

Average account balance

$63,990

No prior year

Annual return

7.69%

No prior year

Benchmarks

See 35,835 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort35,835 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.57M

Not enough data

1 years with asset history on file

Average account balance

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

$243K

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.

117.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$822K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$36K

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

+11.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$749

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

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

$8K

$565 / participant

Other / not subdivided$8K100.0%

% of EOY assets

0.662%

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

$63,990

$99,345-35.6%

$84,753-24.5%

$273,972-76.6%

Participation rate

100.0%

80.7%+19.3pp

76.6%+23.4pp

83.0%+17.0pp

Annual return

7.69%

22.93%-15.2pp

22.78%-15.1pp

41.46%-33.8pp

Employer contribution / active EE

$9,262

$4,214+119.8%

$3,574+159.1%

$4,869+90.2%

Participant deferral / active EE

$5,091

$4,270+19.2%

$3,712+37.1%

$5,287-3.7%

Admin fee / account holder

$423

$6,645-93.6%

$5,333-92.1%

$10,133-95.8%

HOVINGH CONCRETE, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOVINGH CONCRETE, INC. 401(K) 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