Retirement plan

THE HARDY CORPORATION, INC. 401(K) PLAN

Name: THE HARDY CORPORATION, INC. - THE HARDY CORPORATION, INC. 401(K) PLAN (2022) Form 5500
Creator: THE HARDY CORPORATION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE HARDY CORPORATION, INC. 401(K) PLAN, THE HARDY CORPORATION, INC.

THE HARDY CORPORATION, INC.EIN 63-0180471Plan #001PY 2022

P O BOX 2046 - BIRMINGHAM, AL 35201205-203-4940hardycorp.comLinkedIn201-500 employeesconstruction

Prospect flagsLow returnsHigh feesLow participationLow employer contributionRecently reached 100 employeesCorrective distributions

Top hat statement on fileNQDC

Filed January 5, 2013

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$7M

-18.3% from 2021

Total participants

184

+7.0% from 2021

Average account balance

$61,066

-34.0% from 2021

Annual return

-19.55%

-35.01 pp from 2021

Benchmarks

See 3,002 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,002 peers

Snapshot2022

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Analytics

Total assets (EOY)

Plan-year ending balance

$8.10M

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

115

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.

58.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$719K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+14.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$341

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.8+ years Filed as: WELLS FARGO ADVISORS Service code 27 · EIN 23-2384840	Advisory (Plan)	$18,281
ASCENSUS LLC5 years Service code 15 · EIN 11-3665754	Recordkeeping	$13,069
THE HIGHLANDS ACCOUNTING GROUP3 years Service code 10 · EIN 82-3217974	Accounting	$8,000
HARDY REED LLC1 year Filed as: THE HARDY GROUP Service code 50 350 INDUSTRIAL DR · BIRMINGTON, AL 35211	Direct Payment	$7,750

Plan features & details

Pension benefit codes2S2E3D2G2J2K2F2T

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$47K

$306 / participant

Investment mgmt$18K38.8%
Contract admin$13K27.7%
Other / not subdivided$16K33.4%

% of EOY assets

0.677%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: THE HIGHLANDS ACCOUNTING GROUP, INC
Auditor EIN: 823217974
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,066

$64,119-4.8%

$112,228-45.6%

$66,914-8.7%

Participation rate

54.5%

68.5%-13.9pp

75.1%-20.5pp

69.8%-15.3pp

Annual return

-19.55%

-13.81%-5.7pp

27.45%-47.0pp

1.58%-21.1pp

Employer contribution / active EE

$201

$3,005-93.3%

$3,635-94.5%

$2,544-92.1%

Participant deferral / active EE

$2,176

$3,693-41.1%

$4,728-54.0%

$4,237-48.6%

Admin fee / account holder

$413

$625-33.9%

$6,410-93.6%

$593-30.4%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.8+ years

Filed as: WELLS FARGO ADVISORS

Service code 27 · EIN 23-2384840

Advisory (Plan)

$18,281

ASCENSUS LLC5 years

Service code 15 · EIN 11-3665754

Recordkeeping

$13,069

THE HIGHLANDS ACCOUNTING GROUP3 years

Service code 10 · EIN 82-3217974

Accounting

$8,000

HARDY REED LLC1 year

Filed as: THE HARDY GROUP

Service code 50

350 INDUSTRIAL DR · BIRMINGTON, AL 35211

Direct Payment

$7,750

THE HARDY CORPORATION, INC. 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE HARDY CORPORATION, INC. 401(K) PLAN

Top hat statement on fileNQDC

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