Retirement plan

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

Name: HITT CONTRACTING INC. - HITT CONTRACTING INC. 401(K) SAVINGS & PROFIT SHARING PLAN (2023) 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 2023

2900 FAIRVIEW PARK DRIVE - FALLS CHURCH, VA 220424513703-846-9000hitt.comLinkedIn1001-5000 employeesconstruction

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$218.9M

+25.4% from 2022

Total participants

2,836

+7.4% from 2022

Average account balance

$77,199

+16.7% from 2022

Annual return

18.47%

+32.54 pp from 2022

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND8 years Service code 13 · EIN 06-1050034	Contract Administrator	$166,123
BAKER TILLY US, LLP4 years Filed as: BAKER TILLY VIRCHOW KRAUSE Service code 10 · EIN 39-0859910	Accounting	$43,250
KESTRA INVESTMENT SERVICES LLC4 years Filed as: KESTRA ADVISORY SERVICES LLC Service code 16 · EIN 35-2552359	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

1 tripped

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

$250K

$107 / participant

Contract admin$166K66.5%
Other / not subdivided$84K33.5%

% of EOY assets

0.114%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: $43,250
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$77,199

$88,480-12.8%

$96,683-20.2%

$80,160-3.7%

Participation rate

100.0%

79.9%+20.1pp

74.3%+25.7pp

72.9%+27.1pp

Annual return

18.47%

22.53%-4.1pp

35.69%-17.2pp

40.38%-21.9pp

Employer contribution / active EE

$3,398

$4,176-18.6%

$3,737-9.1%

$2,978+14.1%

Participant deferral / active EE

$8,701

$3,959+119.8%

$4,878+78.4%

$5,017+73.4%

Admin fee / account holder

$88

$212-58.4%

$6,730-98.7%

$145-39.3%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND8 years

Service code 13 · EIN 06-1050034

Contract Administrator

$166,123

BAKER TILLY US, LLP4 years

Filed as: BAKER TILLY VIRCHOW KRAUSE

Service code 10 · EIN 39-0859910

Accounting

$43,250

KESTRA INVESTMENT SERVICES LLC4 years

Filed as: KESTRA ADVISORY SERVICES LLC

Service code 16 · EIN 35-2552359

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