Retirement plan

HOFFMAN & KELLEY 401(K) PLAN

Name: HOFFMAN & KELLEY PLUMBING & HEATING LLC - HOFFMAN & KELLEY 401(K) PLAN (2023) Form 5500
Creator: HOFFMAN & KELLEY PLUMBING & HEATING LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOFFMAN & KELLEY 401(K) PLAN, HOFFMAN & KELLEY PLUMBING & HEATING LLC

HOFFMAN & KELLEY PLUMBING & HEATING LLCEIN 47-4172385Plan #001PY 2023

43 HIGH STREET, SUITE 120 EAST MILL, P.O. BOX 578 - NORTH ANDOVER, MA 01845978-475-3424

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$88K

+259.5% from 2022

Total participants

+80.0% from 2022

Average account balance

$12,572

+54.1% from 2022

Annual return

39.04%

+39.04 pp from 2022

Benchmarks

See 51,545 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort51,545 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$224K

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

85.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$38K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+20.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2581

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

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

$6K

$711 / participant

Other / not subdivided$6K100.0%

% of EOY assets

6.460%

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

$12,572

$106,280-88.2%

$96,538-87.0%

$139,487-91.0%

Participation rate

75.0%

77.8%-2.8pp

74.3%+0.7pp

80.3%-5.3pp

Annual return

39.04%

38.48%+0.6pp

35.74%+3.3pp

373.84%-334.8pp

Employer contribution / active EE

$2,256

$4,107-45.1%

$3,740-39.7%

$4,755-52.6%

Participant deferral / active EE

$5,176

$5,457-5.1%

$4,880+6.1%

$6,713-22.9%

Admin fee / account holder

$812

$7,888-89.7%

$6,737-87.9%

$11,407-92.9%

HOFFMAN & KELLEY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOFFMAN & KELLEY 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