Retirement plan

THE HERITAGE GROUP, LLC 401(K) PLAN

Name: THE HERITAGE GROUP, LLC - THE HERITAGE GROUP, LLC 401(K) PLAN (2022) Form 5500
Creator: THE HERITAGE GROUP, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE HERITAGE GROUP, LLC 401(K) PLAN, THE HERITAGE GROUP, LLC

THE HERITAGE GROUP, LLCEIN 46-3195831Plan #001PY 2022

608 CROSS RIDGE LANE - MANAKIN SABOT, VA 23103585-370-2042thlgva.comLinkedIn11-50 employeeslaw practice

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$361K

+16.1% from 2021

Total participants

+36.4% from 2021

Average account balance

$13,879

-10.7% from 2021

Annual return

-23.27%

-39.44 pp from 2021

Benchmarks

See 11,555 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants<25

Cohort11,555 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$840K

Not enough data

1 years with asset history on file

Average account balance

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

$23K

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.

120.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$184K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+18.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$252

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 codes2E2J2F2G3D3H2T

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.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$25K

$1168 / participant

Other / not subdivided$25K100.0%

% of EOY assets

6.796%

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

$13,879

$84,464-83.6%

$61,399-77.4%

$134,509-89.7%

Participation rate

81.0%

62.2%+18.8pp

52.6%+28.4pp

81.2%-0.3pp

Annual return

-23.27%

585.06%-608.3pp

338.81%-362.1pp

418.13%-441.4pp

Employer contribution / active EE

$2,396

$1,545+55.1%

$1,159+106.7%

$4,741-49.5%

Participant deferral / active EE

$4,465

$2,818+58.4%

$2,124+110.2%

$6,400-30.2%

Admin fee / account holder

$943

$2,587-63.5%

$2,131-55.7%

$11,427-91.7%

THE HERITAGE GROUP, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE HERITAGE GROUP, LLC 401(K) 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