Retirement plan

HUFFMAN & HUFFMAN, PSC, PROFIT SHARING PLAN, 401 (K)

Name: HUFFMAN & HUFFMAN, PSC - HUFFMAN & HUFFMAN, PSC, PROFIT SHARING PLAN, 401 (K) (2024) Form 5500
Creator: HUFFMAN & HUFFMAN, PSC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HUFFMAN & HUFFMAN, PSC, PROFIT SHARING PLAN, 401 (K), HUFFMAN & HUFFMAN, PSC

HUFFMAN & HUFFMAN, PSCEIN 61-1216376Plan #001PY 2024

503 NORTH MAIN STREET - LONDON, KY 40741606-877-1877huffmanandhuffman.comLinkedIn11-50 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$11.4M

+19.6% from 2023

Total participants

120

+11.1% from 2023

Average account balance

$108,342

+20.7% from 2023

Annual return

15.91%

-1.27 pp from 2023

Benchmarks

See 270 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Cohort270 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.38M

Not enough data

1 years with asset history on file

Average account balance

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

$108K

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.

105

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.

106.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$478K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+15.91%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1353

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 codes2G3D2H2J

Plan features

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.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

$142K

$1435 / participant

Other / not subdivided$142K100.0%

% of EOY assets

1.249%

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

$108,342

$165,890-34.7%

$155,574-30.4%

Participation rate

84.8%

63.3%+21.6pp

78.2%+6.6pp

Annual return

15.91%

19.47%-3.6pp

64.87%-49.0pp

Employer contribution / active EE

$1,629

$2,522-35.4%

$4,676-65.2%

Participant deferral / active EE

$3,196

$2,935+8.9%

$5,629-43.2%

Admin fee / account holder

$1,353

$97,423-98.6%

$15,914-91.5%

HUFFMAN & HUFFMAN, PSC, PROFIT SHARING PLAN, 401 (K)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HUFFMAN & HUFFMAN, PSC, PROFIT SHARING PLAN, 401 (K)

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