Retirement plan

WATT, TIEDER, HOFFAR & FITZGERALD, LLP PROFIT SHARING 401(K) PLAN

Name: WATT, TIEDER, HOFFAR & FITZGERALD, LLP - WATT, TIEDER, HOFFAR & FITZGERALD, LLP PROFIT SHARING 401(K) PLAN (2022) Form 5500
Creator: WATT, TIEDER, HOFFAR & FITZGERALD, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WATT, TIEDER, HOFFAR & FITZGERALD, LLP PROFIT SHARING 401(K) PLAN, WATT, TIEDER, HOFFAR & FITZGERALD, LLP

WATT, TIEDER, HOFFAR & FITZGERALD, LLPEIN 54-1065705Plan #001PY 2022

1765 GREENSBORO STATION PLACE, SUITE 1000 - MCLEAN, VA 22102703-749-1000watttieder.comLinkedIn51-200 employeeslaw practice

Other plans on this EIN

1 filing

#002Retirement-$21.6M assets

Prospect flagsHigh feesHigh assets / participantFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$33.6M

-15.3% from 2021

Total participants

119

+4.4% from 2021

Average account balance

$292,270

-17.5% from 2021

Annual return

-16.03%

-36.39 pp from 2021

Benchmarks

See 27,998 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort27,998 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$48.96M

Not enough data

1 years with asset history on file

Average account balance

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

$371K

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.

132

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.

96.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.97M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$22K

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

+15.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$878

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 4 by compensation

Provider	Service type	Compensation
HUNTER MICHAEL INVESTMENT ADVISORS7 years Service code 21 · EIN 54-1870462	Bank Trustee	$36,524
ACTUARIAL BENEFITS CORP8+ years Filed as: ACTUARIAL CONSULTING GROUP Service code 13 · EIN 54-1437648	Contract Administrator	$26,831
HUNTER MICHAEL INVESTMENT ADVISORS8+ years Filed as: HUNTER-MICHAEL INVESTMENT ADVISORS Service code 27	Advisory (Plan)	$10,727
NEWPORT GROUP, INC.8+ years Filed as: NEWPORT GROUP Service code 13 · EIN 62-1868111	Contract Administrator	$3,486

Plan features & details

Pension benefit codes2E2F2G2J2K2T3B3D

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

4 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$40K

$533 / participant

Investment mgmt$40K100.0%

% of EOY assets

0.119%

all-in expense ratio

Categories reported

1 / 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: 390859910
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$292,270

$82,678+253.5%

$125,391+133.1%

$68,490+326.7%

Participation rate

94.7%

75.1%+19.6pp

82.4%+12.3pp

67.9%+26.8pp

Annual return

-16.03%

-5.97%-10.1pp

572.41%-588.4pp

-7.85%-8.2pp

Employer contribution / active EE

$3,549

$3,382+4.9%

$4,816-26.3%

$2,597+36.7%

Participant deferral / active EE

$16,239

$6,111+165.7%

$7,448+118.0%

$4,028+303.2%

Admin fee / account holder

$348

$6,277-94.5%

$10,009-96.5%

$5,403-93.6%

Provider

Service type

Compensation

HUNTER MICHAEL INVESTMENT ADVISORS7 years

Service code 21 · EIN 54-1870462

Bank Trustee

$36,524

ACTUARIAL BENEFITS CORP8+ years

Filed as: ACTUARIAL CONSULTING GROUP

Service code 13 · EIN 54-1437648

Contract Administrator

$26,831

HUNTER MICHAEL INVESTMENT ADVISORS8+ years

Filed as: HUNTER-MICHAEL INVESTMENT ADVISORS

Service code 27

Advisory (Plan)

$10,727

NEWPORT GROUP, INC.8+ years

Filed as: NEWPORT GROUP

Service code 13 · EIN 62-1868111

Contract Administrator

$3,486

WATT, TIEDER, HOFFAR & FITZGERALD, LLP PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WATT, TIEDER, HOFFAR & FITZGERALD, LLP PROFIT SHARING 401(K) 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