Retirement plan

HOME OF ECONOMY, INC. 401(K) & PROFIT SHARING PLAN

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

HOME OF ECONOMY, INC.EIN 45-0219324Plan #001PY 2020

1508 NORTH WASHINGTON STREET - GRAND FORKS, ND 58203701-772-6611

Prospect flagsLow participationLow assets / participant

How to read this page

Total assets (EOY)

$1.5M

+27.5% from 2019

Total participants

136

-11.1% from 2019

Average account balance

$15,541

+23.5% from 2019

Annual return

16.80%

-11.77 pp from 2019

Benchmarks

See 2,198 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,198 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+2.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

Top 2 by compensation

Provider	Service type	Compensation
AMERICAN FUNDS2 years Service code 15 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping	$0
GOLDLEAF PARTNERS2 years Service code 10 · EIN 46-3340706 P.O. BOX 55757 · BOSTON, MA 02205	Accounting	$0

Plan features & details

Pension benefit codes2E2J2K2F2G2T3D3H

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$450

$4 / participant

Contract admin$450100.0%

% of EOY assets

0.030%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BRADY MARTZ & ASSOCIATES
Auditor EIN: 450310328
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$15,541

$54,573-71.5%

$90,970-82.9%

$73,493-78.9%

Participation rate

66.7%

61.2%+5.5pp

69.0%-2.3pp

70.7%-4.0pp

Annual return

16.80%

16.69%+0.1pp

134.58%-117.8pp

28.51%-11.7pp

Employer contribution / active EE

$521

$991-47.4%

$2,122-75.4%

$2,270-77.0%

Participant deferral / active EE

$1,201

$2,517-52.3%

$3,373-64.4%

$3,740-67.9%

Admin fee / account holder

$521-99.1%

$5,960-99.9%

$513-99.1%

Provider

Service type

Compensation

AMERICAN FUNDS2 years

Service code 15

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping

GOLDLEAF PARTNERS2 years

Service code 10 · EIN 46-3340706

P.O. BOX 55757 · BOSTON, MA 02205

Accounting

HOME OF ECONOMY, INC. 401(K) & PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOME OF ECONOMY, 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