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 (2017) 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 2017

5006 SKYWAY DR - MANHATTAN, KS 66503785-539-7266hitechinteriors.comLinkedIn1-10 employeesexecutive office

Prospect flagsLow returnsLow assets / participantRecently reached 100 employeesLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$2.5M

+25.8% from 2016

Total participants

129

0.0% from 2016

Average account balance

$20,839

-0.2% from 2016

Annual return

12.94%

+4.05 pp from 2016

Benchmarks

See 2,582 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,582 peers

Snapshot2017

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
NEWPORT GROUP, INC.2 years Service code 15 · EIN 27-2037969	Recordkeeping	$12,142
COMMONWEALTH FINANCIAL NETWORK2 years Service code 27 7300 WEST 110TH, STE 530 · OVERLAND PARK, KS 66210	Advisory (Plan)	$10,518
NEWPORT GROUP, INC.1 year Filed as: NEWPORT CONSULTING GROUP, LLC Service code 16 · EIN 20-4649925	Consulting	$2,674

Plan features & details

Pension benefit codes2E2F2G2J2K3D2T3H

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

5 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$25K

$215 / participant

Investment mgmt$13K52.1%
Contract admin$12K47.9%

% of EOY assets

1.005%

all-in expense ratio

Categories reported

2 / 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: VARNEY & ASSOCIATES, CPAS, LLC
Auditor EIN: 300038643
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$20,839

$58,726-64.5%

$92,240-77.4%

$62,293-66.5%

Participation rate

93.2%

68.3%+24.9pp

76.5%+16.7pp

69.5%+23.7pp

Annual return

12.94%

43.62%-30.7pp

176.29%-163.4pp

28.90%-16.0pp

Employer contribution / active EE

$1,213

$2,392-49.3%

$3,680-67.0%

$2,042-40.6%

Participant deferral / active EE

$2,116

$2,766-23.5%

$3,897-45.7%

$3,169-33.2%

Admin fee / account holder

$209

$556-62.4%

$5,194-96.0%

$479-56.3%

Provider

Service type

Compensation

NEWPORT GROUP, INC.2 years

Service code 15 · EIN 27-2037969

Recordkeeping

$12,142

COMMONWEALTH FINANCIAL NETWORK2 years

Service code 27

7300 WEST 110TH, STE 530 · OVERLAND PARK, KS 66210

Advisory (Plan)

$10,518

NEWPORT GROUP, INC.1 year

Filed as: NEWPORT CONSULTING GROUP, LLC

Service code 16 · EIN 20-4649925

Consulting

$2,674

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