Retirement plan

CONICO MANAGEMENT 401(K)/DISCRETIONARY DEFINED CONTRIBUTION PLAN II

Name: HONG HOLDINGS, LLC - CONICO MANAGEMENT 401(K)/DISCRETIONARY DEFINED CONTRIBUTION PLAN II (2024) Form 5500
Creator: HONG HOLDINGS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CONICO MANAGEMENT 401(K)/DISCRETIONARY DEFINED CONTRIBUTION PLAN II, HONG HOLDINGS, LLC

HONG HOLDINGS, LLCEIN 59-3771694Plan #002PY 2024

4520 E. THOUSAND OAKS BOULEVARD, SUITE #200 - WESTLAKE VILLAGE, CA 91362805-373-1880LinkedIn51-200 employeesoil & energy

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$7.1M

+24.8% from 2023

Total participants

184

+8.2% from 2023

Average account balance

$69,236

+21.2% from 2023

Annual return

13.29%

-56.77 pp from 2023

Benchmarks

See 1,227 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants100-249

Cohort1,227 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.13M

Not enough data

1 years with asset history on file

Average account balance

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

$69K

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.

103

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.

61.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.23M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+13.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5551

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$572K

$3424 / participant

Other / not subdivided$572K100.0%

% of EOY assets

8.018%

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

$69,236

$54,674+26.6%

$76,089-9.0%

$74,429-7.0%

Participation rate

51.5%

60.3%-8.8pp

69.1%-17.6pp

67.2%-15.7pp

Annual return

13.29%

31.89%-18.6pp

360.94%-347.6pp

1368.38%-1355.1pp

Employer contribution / active EE

$2,145

$1,781+20.4%

$2,690-20.3%

$2,625-18.3%

Participant deferral / active EE

$5,215

$3,071+69.8%

$4,259+22.4%

$4,348+19.9%

Admin fee / account holder

$5,551

$2,238+148.1%

$6,418-13.5%

$1,944+185.5%

CONICO MANAGEMENT 401(K)/DISCRETIONARY DEFINED CONTRIBUTION PLAN II

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CONICO MANAGEMENT 401(K)/DISCRETIONARY DEFINED CONTRIBUTION PLAN II

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