Retirement plan

HERRMANN INTERNATIONAL EMPLOYEES' RETIREMENT PLAN

Name: HERRMANN INTERNATIONAL, INC. - HERRMANN INTERNATIONAL EMPLOYEES' RETIREMENT PLAN (2023) Form 5500
Creator: HERRMANN INTERNATIONAL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HERRMANN INTERNATIONAL EMPLOYEES' RETIREMENT PLAN, HERRMANN INTERNATIONAL, INC.

HERRMANN INTERNATIONAL, INC.EIN 56-1854887Plan #001PY 2023

1639 COLLEGE AVE, SUITE 150, PMP 111 - SPINDALE, NC 28160800-432-4234herrmann-international.comLinkedIn11-50 employees

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$3.8M

+31.5% from 2022

Total participants

+10.7% from 2022

Average account balance

$72,674

+18.9% from 2022

Annual return

20.49%

+36.84 pp from 2022

Benchmarks

See 28,714 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,714 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.94M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

152.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$341K

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

+15.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$30702

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 codes2E2F2G2J2T3D

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.
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

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

$11K

$241 / participant

Other / not subdivided$11K100.0%

% of EOY assets

0.281%

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

$72,674

$93,589-22.3%

$135,942-46.5%

$75,181-3.3%

Participation rate

77.3%

75.2%+2.1pp

81.9%-4.6pp

67.2%+10.1pp

Annual return

20.49%

30.90%-10.4pp

68.28%-47.8pp

160.69%-140.2pp

Employer contribution / active EE

$2,119

$3,537-40.1%

$4,858-56.4%

$2,671-20.6%

Participant deferral / active EE

$5,213

$6,405-18.6%

$7,759-32.8%

$4,126+26.4%

Admin fee / account holder

$204

$6,977-97.1%

$10,764-98.1%

$5,650-96.4%

HERRMANN INTERNATIONAL EMPLOYEES' RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HERRMANN INTERNATIONAL EMPLOYEES' RETIREMENT 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