Retirement plan

HOBB'S AUTOMOTIVE, INC. SALARY DEFERRAL 401(K) PROFIT SHARING PLAN

Name: HOBBS AUTOMOTIVE, INC. - HOBB'S AUTOMOTIVE, INC. SALARY DEFERRAL 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: HOBBS AUTOMOTIVE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOBB'S AUTOMOTIVE, INC. SALARY DEFERRAL 401(K) PROFIT SHARING PLAN, HOBBS AUTOMOTIVE, INC.

HOBBS AUTOMOTIVE, INC.EIN 64-0909817Plan #001PY 2023

1030 HWY 15 NORTH - LAUREL, MS 39440601-649-4800

Prospect flagsHigh feesLow assets / participant

How to read this page

Total assets (EOY)

$794K

+76.8% from 2022

Total participants

+6.8% from 2022

Average account balance

$16,896

-2.2% from 2022

Annual return

33.10%

+48.73 pp from 2022

Benchmarks

See 9,480 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort9,480 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$799K

Not enough data

1 years with asset history on file

Average account balance

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

$12K

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.

95.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$235K

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

+12.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5342

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 codes2E2J2F2G3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$37K

$690 / participant

Other / not subdivided$37K100.0%

% of EOY assets

4.693%

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

$16,896

$65,555-74.2%

$86,216-80.4%

$75,173-77.5%

Participation rate

70.4%

60.5%+9.9pp

69.0%+1.4pp

67.2%+3.2pp

Annual return

33.10%

46.07%-13.0pp

1169.42%-1136.3pp

160.72%-127.6pp

Employer contribution / active EE

$1,307

$1,553-15.9%

$2,382-45.1%

$2,671-51.1%

Participant deferral / active EE

$2,874

$3,023-4.9%

$3,986-27.9%

$4,126-30.3%

Admin fee / account holder

$793

$5,469-85.5%

$6,853-88.4%

$5,651-86.0%

HOBB'S AUTOMOTIVE, INC. SALARY DEFERRAL 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOBB'S AUTOMOTIVE, INC. SALARY DEFERRAL 401(K) PROFIT SHARING 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