Retirement plan

HILL'S ELECTRIC MOTOR SERVICE, INC. 401(K) PROFIT SHARING PLAN

Name: HILL'S ELECTRIC MOTOR SERVICE, INC. - HILL'S ELECTRIC MOTOR SERVICE, INC. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: HILL'S ELECTRIC MOTOR SERVICE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HILL'S ELECTRIC MOTOR SERVICE, INC. 401(K) PROFIT SHARING PLAN, HILL'S ELECTRIC MOTOR SERVICE, INC.

HILL'S ELECTRIC MOTOR SERVICE, INC.EIN 52-0941517Plan #001PY 2022

3901 VINCENT ROAD - LINKWOOD, MD 21835410-228-4447

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$1.5M

-6.6% from 2021

Total participants

+4.9% from 2021

Average account balance

$50,657

-0.1% from 2021

Annual return

-17.59%

-30.26 pp from 2021

Benchmarks

See 9,364 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,364 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.76M

Not enough data

1 years with asset history on file

Average account balance

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

$106K

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.

60.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$264K

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

+17.57%

Not enough data

1 years with return on file

Admin fee / account holder

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

$435

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 codes2E2F2G2J2R2T3C3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3C
Plan not intended to be qualified
A plan not intended to be qualified under Code sections 401 403 or 408.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$77K

$1888 / participant

Other / not subdivided$77K100.0%

% of EOY assets

5.268%

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

$50,657

$54,357-6.8%

$82,706-38.8%

$68,495-26.0%

Participation rate

65.9%

63.9%+1.9pp

72.6%-6.7pp

67.9%-2.0pp

Annual return

-17.59%

-13.67%-3.9pp

701.76%-719.3pp

-7.84%-9.7pp

Employer contribution / active EE

$1,972

$2,218-11.1%

$3,007-34.4%

$2,596-24.0%

Participant deferral / active EE

$4,097

$3,246+26.2%

$4,394-6.8%

$4,028+1.7%

Admin fee / account holder

$2,669

$4,396-39.3%

$5,329-49.9%

$5,403-50.6%

HILL'S ELECTRIC MOTOR SERVICE, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HILL'S ELECTRIC MOTOR SERVICE, 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