Retirement plan

HI-TECH INTERIORS, INC. 401(K) SALARY REDUCTION PLAN & TRUST

Name: HI-TECH INTERIORS, INC. - HI-TECH INTERIORS, INC. 401(K) SALARY REDUCTION PLAN & TRUST (2024) Form 5500
Creator: HI-TECH INTERIORS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HI-TECH INTERIORS, INC. 401(K) SALARY REDUCTION PLAN & TRUST, HI-TECH INTERIORS, INC.

HI-TECH INTERIORS, INC.EIN 48-1141344Plan #001PY 2024

5006 SKYWAY DR - MANHATTAN, KS 665039778785-539-7266hitechinteriors.comLinkedIn1-10 employeesexecutive office

Prospect flagsLow assets / participantFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$8.9M

+18.5% from 2023

Total participants

429

+17.2% from 2023

Average account balance

$22,411

+4.2% from 2023

Annual return

15.34%

-3.02 pp from 2023

Benchmarks

See 1,561 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,561 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.94M

Not enough data

1 years with asset history on file

Average account balance

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

$22K

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.

399

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.

89.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.20M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+15.34%

Not enough data

1 years with return on file

Admin fee / account holder

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

$94

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
GENTRY PRIVATE WEALTH3 years Service code 27 · EIN 27-1611173 515 S MAIN STE 111 · WICHITA, KS 67202	Advisory (Plan)	$30,000
NATIONWIDE4 years Service code 15 · EIN 31-4156830 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$19,121
ECONOMIC GROUP PENSION SERVICES4 years Filed as: ECONOMIC GROUP PENSION SVCS Service code 14 · EIN 13-3180178 207 W 25 ST 9TH FLOOR · NEW YORK, NV 10001	Plan Administrator	$6,400

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H2U

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$38K

$131 / participant

Recordkeeping$38K100.0%

% of EOY assets

0.421%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: VARNEY & ASSOCIATES, CPAS, LLC
Auditor EIN: 300038643
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$22,411

$83,023-73.0%

$102,437-78.1%

$77,762-71.2%

Participation rate

89.5%

71.5%+18.0pp

74.5%+15.0pp

70.6%+19.0pp

Annual return

15.34%

19.12%-3.8pp

24.95%-9.6pp

31.27%-15.9pp

Employer contribution / active EE

$1,102

$3,552-69.0%

$3,871-71.5%

$2,728-59.6%

Participant deferral / active EE

$3,066

$4,110-25.4%

$5,060-39.4%

$4,651-34.1%

Admin fee / account holder

$94

$639-85.2%

$8,388-98.9%

$433-78.2%

Provider

Service type

Compensation

GENTRY PRIVATE WEALTH3 years

Service code 27 · EIN 27-1611173

515 S MAIN STE 111 · WICHITA, KS 67202

Advisory (Plan)

$30,000

NATIONWIDE4 years

Service code 15 · EIN 31-4156830

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$19,121

ECONOMIC GROUP PENSION SERVICES4 years

Filed as: ECONOMIC GROUP PENSION SVCS

Service code 14 · EIN 13-3180178

207 W 25 ST 9TH FLOOR · NEW YORK, NV 10001

Plan Administrator

$6,400

HI-TECH INTERIORS, INC. 401(K) SALARY REDUCTION PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HI-TECH INTERIORS, INC. 401(K) SALARY REDUCTION PLAN & TRUST

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