Retirement plan

HITT CONTRACTING INC. 401(K) SAVINGS & PROFIT SHARING PLAN

Name: HITT CONTRACTING INC. - HITT CONTRACTING INC. 401(K) SAVINGS & PROFIT SHARING PLAN (2024) Form 5500
Creator: HITT CONTRACTING INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HITT CONTRACTING INC. 401(K) SAVINGS & PROFIT SHARING PLAN, HITT CONTRACTING INC.

HITT CONTRACTING INC.EIN 54-0248192Plan #002PY 2024

2900 FAIRVIEW PARK DR - FALLS CHURCH, VA 22042703-846-9000hitt.comLinkedIn1001-5000 employeesconstruction

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$249.2M

+13.8% from 2023

Total participants

4,471

+57.7% from 2023

Average account balance

$76,323

-1.1% from 2023

Annual return

12.05%

-6.42 pp from 2023

Benchmarks

See 560 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort560 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$249.19M

Not enough data

1 years with asset history on file

Average account balance

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

$76K

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.

3,265

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.

68.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$31.31M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+12.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$77

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
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 13 · EIN 06-1050034 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Contract Administrator	$165,529
BAKER TILLY US, LLP1 year Filed as: BAKER TILLY US LLP Service code 10 PO BOX 7398 · MADISON, WI 537077398	Accounting	$44,625
KESTRA INVESTMENT SERVICES LLC5 years Filed as: KESTRA ADVISORY SERVICES LLC Service code 16 · EIN 35-2552359 5707 SWST PRKWY BLDG 2 · AUSTIN, TX 78735	Consulting	$40,000

Plan features & details

Pension benefit codes2A2E2F2J2S2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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).
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.
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.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$251K

$67 / participant

Recordkeeping$128K51.0%
Investment mgmt$30K12.0%
Contract admin$38K15.0%
Other / not subdivided$55K22.0%

% of EOY assets

0.101%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: $44,625
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$76,323

$241,850-68.4%

$102,437-25.5%

$200,096-61.9%

Participation rate

68.0%

78.3%-10.4pp

74.5%-6.5pp

72.0%-4.0pp

Annual return

12.05%

17.67%-5.6pp

24.95%-12.9pp

34.26%-22.2pp

Employer contribution / active EE

$2,183

$4,253-48.7%

$3,871-43.6%

$3,038-28.1%

Participant deferral / active EE

$6,131

$3,961+54.8%

$5,060+21.2%

$5,090+20.5%

Admin fee / account holder

$77

$288-73.3%

$8,388-99.1%

$269-71.5%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 13 · EIN 06-1050034

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Contract Administrator

$165,529

BAKER TILLY US, LLP1 year

Filed as: BAKER TILLY US LLP

Service code 10

PO BOX 7398 · MADISON, WI 537077398

Accounting

$44,625

KESTRA INVESTMENT SERVICES LLC5 years

Filed as: KESTRA ADVISORY SERVICES LLC

Service code 16 · EIN 35-2552359

5707 SWST PRKWY BLDG 2 · AUSTIN, TX 78735

Consulting

$40,000

HITT CONTRACTING INC. 401(K) SAVINGS & PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HITT CONTRACTING INC. 401(K) SAVINGS & 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