Retirement plan

THE HUGHES 401(K) PROFIT SHARING PLAN

Name: HUGHES & SMITH, INC. - THE HUGHES 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: HUGHES & SMITH, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE HUGHES 401(K) PROFIT SHARING PLAN, HUGHES & SMITH, INC.

HUGHES & SMITH, INC.EIN 54-0756452Plan #001PY 2020

3016 WILLIAMS DRIVE SUITE 100 - FAIRFAX, VA 22031703-450-5700hughesandsmith.comLinkedIn11-50 employeesconstruction

Prospect flagsLow returnsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$8.9M

+18.2% from 2019

Total participants

148

+5.0% from 2019

Average account balance

$66,978

+11.9% from 2019

Annual return

7.54%

+6.92 pp from 2019

Benchmarks

See 2,939 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,939 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.93M

Not enough data

1 years with asset history on file

Average account balance

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

$99K

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.

131

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.

83.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+11.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$452

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS2 years Service code 15 · EIN 13-3689044	Recordkeeping	$24,678
LPL FINANCIAL1 year Filed as: LPL FINANCIAL CORP Service code 27 · EIN 04-3046611	Advisory (Plan)	$19,325

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$44K

$393 / participant

Investment mgmt$19K43.9%
Other / not subdivided$25K56.1%

% of EOY assets

0.494%

all-in expense ratio

Categories reported

1 / 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: DIXON HUGHES GOODMAN LLP
Auditor EIN: 560747981
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,978

$69,383-3.5%

$101,271-33.9%

$73,493-8.9%

Participation rate

86.6%

68.4%+18.2pp

75.8%+10.8pp

70.7%+15.9pp

Annual return

7.54%

18.46%-10.9pp

46.48%-38.9pp

28.51%-21.0pp

Employer contribution / active EE

$3,195

$2,628+21.6%

$3,660-12.7%

$2,270+40.8%

Participant deferral / active EE

$4,530

$3,301+37.2%

$4,371+3.7%

$3,740+21.1%

Admin fee / account holder

$331

$704-53.0%

$5,948-94.4%

$513-35.5%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS2 years

Service code 15 · EIN 13-3689044

Recordkeeping

$24,678

LPL FINANCIAL1 year

Filed as: LPL FINANCIAL CORP

Service code 27 · EIN 04-3046611

Advisory (Plan)

$19,325

THE HUGHES 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE HUGHES 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