Retirement plan

HITE, FANNING & HONEYMAN LLP DEFINED CONTRIB. PENSION PLAN

Name: HITE FANNING & HONEYMAN LLP - HITE, FANNING & HONEYMAN LLP DEFINED CONTRIB. PENSION PLAN (2023) Form 5500
Creator: HITE FANNING & HONEYMAN LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HITE, FANNING & HONEYMAN LLP DEFINED CONTRIB. PENSION PLAN, HITE FANNING & HONEYMAN LLP

HITE FANNING & HONEYMAN LLPEIN 43-1877461Plan #002PY 2023

100 N BROADWAY ST STE 950 - WICHITA, KS 672022209316-265-7741hitefanning.comLinkedIn11-50 employeeslegal services

Other plans on this EIN

1 filing

#001Retirement-$4.3M assets

Prospect flagsHigh feesLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$6.5M

+21.1% from 2022

Total participants

-7.3% from 2022

Average account balance

$179,397

+31.1% from 2022

Annual return

17.89%

+35.24 pp from 2022

Benchmarks

See 139,707 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,707 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.23M

Not enough data

1 years with asset history on file

Average account balance

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

$169K

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.

163.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$293K

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

+10.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

$71809

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 codes2F2G2T3D2E2J2R3B

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$111K

$4814 / participant

Other / not subdivided$111K100.0%

% of EOY assets

1.714%

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

$179,397

$148,629+20.7%

$135,982+31.9%

$139,487+28.6%

Participation rate

91.3%

83.9%+7.4pp

81.9%+9.4pp

80.3%+11.0pp

Annual return

17.89%

79.33%-61.4pp

68.32%-50.4pp

373.84%-356.0pp

Employer contribution / active EE

$111

$5,247-97.9%

$4,859-97.7%

$4,755-97.7%

Participant deferral / active EE

$11,497

$8,102+41.9%

$7,760+48.2%

$6,713+71.3%

Admin fee / account holder

$3,076

$12,406-75.2%

$10,767-71.4%

$11,407-73.0%

HITE, FANNING & HONEYMAN LLP DEFINED CONTRIB. PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HITE, FANNING & HONEYMAN LLP DEFINED CONTRIB. PENSION 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