Retirement plan

HARBEN, INC. 401(K) PLAN AND TRUST

Name: HARBEN, INC. - HARBEN, INC. 401(K) PLAN AND TRUST (2023) Form 5500
Creator: HARBEN, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HARBEN, INC. 401(K) PLAN AND TRUST, HARBEN, INC.

HARBEN, INC.EIN 58-1430874Plan #002PY 2023

P.O. BOX 2250 - CUMMING, GA 30028770-889-9535harben.comLinkedIn11-50 employeesmachinery

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2M

+30.9% from 2022

Total participants

+9.1% from 2022

Average account balance

$57,781

+23.2% from 2022

Annual return

29.02%

+44.11 pp from 2022

Benchmarks

See 22,643 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,643 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.52M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

246.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$83K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+21.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$25544

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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$101K

$7789 / participant

Other / not subdivided$101K100.0%

% of EOY assets

5.154%

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

$57,781

$110,212-47.6%

$96,534-40.1%

$139,466-58.6%

Participation rate

84.6%

78.1%+6.5pp

76.0%+8.6pp

80.3%+4.3pp

Annual return

29.02%

26.42%+2.6pp

25.88%+3.1pp

373.66%-344.6pp

Employer contribution / active EE

$2,416

$3,620-33.3%

$2,965-18.5%

$4,754-49.2%

Participant deferral / active EE

$7,417

$5,547+33.7%

$4,851+52.9%

$6,712+10.5%

Admin fee / account holder

$2,978

$11,599-74.3%

$8,253-63.9%

$11,409-73.9%

HARBEN, INC. 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HARBEN, INC. 401(K) PLAN AND TRUST

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