Retirement plan

HELM BANK USA 401(K) PLAN

Name: HELM BANK USA - HELM BANK USA 401(K) PLAN (2020) Form 5500
Creator: HELM BANK USA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HELM BANK USA 401(K) PLAN, HELM BANK USA

HELM BANK USAEIN 65-0159184Plan #001PY 2020

999 BRICKELL AVE STE 100 - MIAMI, FL 33131305-379-4356helmbankusa.comLinkedIn51-200 employeesbanking

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$21.9M

+21.8% from 2019

Total participants

229

+2.7% from 2019

Average account balance

$115,363

+14.1% from 2019

Annual return

18.66%

-3.14 pp from 2019

Benchmarks

See 2,211 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,211 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$31.04M

Not enough data

1 years with asset history on file

Average account balance

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

$125K

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.

249

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.

71.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.34M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+14.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$536

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

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY5+ years Filed as: JOHN HANCOCK USA Service code 15 · EIN 01-0233346 PO BOX 600 · BUFFALO, NY 142010600	Recordkeeping	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3H

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.
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.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$86K

$475 / participant

Other / not subdivided$86K100.0%

% of EOY assets

0.390%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PEREZ-ABREU,AGUERREBERE,SUEIRO,TORR
Auditor EIN: 650942623
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$115,363

$136,307-15.4%

$177,840-35.1%

$73,493+57.0%

Participation rate

78.3%

86.1%-7.8pp

87.7%-9.4pp

70.7%+7.7pp

Annual return

18.66%

18.68%0pp

48.32%-29.7pp

28.51%-9.9pp

Employer contribution / active EE

$3,408

$3,712-8.2%

$5,919-42.4%

$2,270+50.1%

Participant deferral / active EE

$4,633

$5,829-20.5%

$7,714-39.9%

$3,740+23.9%

Admin fee / account holder

$450

$596-24.4%

$12,431-96.4%

$513-12.2%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY5+ years

Filed as: JOHN HANCOCK USA

Service code 15 · EIN 01-0233346

PO BOX 600 · BUFFALO, NY 142010600

Recordkeeping

HELM BANK USA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HELM BANK USA 401(K) 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