Retirement plan

PROFICIENT HEAT INC. 401(K) PROFIT SHARING PLAN

Name: PROFICIENT HEAT INC. - PROFICIENT HEAT INC. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: PROFICIENT HEAT INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROFICIENT HEAT INC. 401(K) PROFIT SHARING PLAN, PROFICIENT HEAT INC.

PROFICIENT HEAT INC.EIN 38-3300828Plan #003PY 2022

3250 OLD FARM LANE, SUITE 6 - COMMERCE TOWNSHIP, MI 48390734-260-2651

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$292K

+18.2% from 2021

Total participants

0.0% from 2021

Average account balance

$145,935

+18.2% from 2021

Annual return

-16.28%

-24.66 pp from 2021

Benchmarks

See 23,461 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,461 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$542K

Not enough data

1 years with asset history on file

Average account balance

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

$271K

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.

66.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$94K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$31K

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

+7.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3005

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 codes2E2J2F2G3D

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.
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

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

$4K

$2031 / participant

Other / not subdivided$4K100.0%

% of EOY assets

1.391%

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

$145,935

$142,409+2.5%

$119,634+22.0%

$134,545+8.5%

Participation rate

100.0%

82.8%+17.2pp

79.3%+20.7pp

81.2%+18.8pp

Annual return

-16.28%

-12.46%-3.8pp

-14.98%-1.3pp

418.37%-434.6pp

Employer contribution / active EE

$24,731

$5,224+373.4%

$4,232+484.3%

$4,742+421.6%

Participant deferral / active EE

$17,821

$6,468+175.5%

$5,601+218.2%

$6,401+178.4%

Admin fee / account holder

$2,031

$13,594-85.1%

$10,329-80.3%

$11,431-82.2%

PROFICIENT HEAT INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROFICIENT HEAT 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