Retirement plan

H E M, INC. 401(K) RETIREMENT PLAN

Name: H E M, INC. - H E M, INC. 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: H E M, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, H E M, INC. 401(K) RETIREMENT PLAN, H E M, INC.

H E M, INC.EIN 73-1027440Plan #002PY 2022

PO BOX 1148 - PRYOR, OK 74362918-824-6150

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$3.2M

-22.9% from 2021

Total participants

+6.1% from 2021

Average account balance

$41,944

-22.9% from 2021

Annual return

-21.95%

-33.57 pp from 2021

Benchmarks

See 14,491 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,491 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.86M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

58.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$278K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+8.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8547

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MASSACHUSETTS MUTUAL LIFE INS CO Service code 64 · EIN 04-1590850	Recordkeeping Fees	$19,924
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$3,686
DENNIS G. JENKINS, CPA,LLC1 year Filed as: DENNIS MACK JONES Service code 53 3139 S ATLANTA AVE · TULSA, OH 74105	Insurance Commissions	$0

Plan features & details

Pension benefit codes2E2J2F2G2K2T

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.
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.

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 returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$23K

$305 / participant

Investment mgmt$16K69.5%
Contract admin$7K30.5%

% of EOY assets

0.726%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: STOTTS ARCHAMBO MUEGGENBORG & BARCL
Auditor EIN: 471209122
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$41,944

$71,873-41.6%

$86,698-51.6%

$68,490-38.8%

Participation rate

87.0%

72.2%+14.8pp

76.6%+10.4pp

67.9%+19.1pp

Annual return

-21.95%

3.54%-25.5pp

35.96%-57.9pp

-7.85%-14.1pp

Employer contribution / active EE

$1,381

$2,173-36.5%

$2,837-51.3%

$2,597-46.8%

Participant deferral / active EE

$2,202

$3,779-41.7%

$4,656-52.7%

$4,028-45.3%

Admin fee / account holder

$305

$6,110-95.0%

$7,492-95.9%

$5,403-94.4%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO

Service code 64 · EIN 04-1590850

Recordkeeping Fees

$19,924

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$3,686

DENNIS G. JENKINS, CPA,LLC1 year

Filed as: DENNIS MACK JONES

Service code 53

3139 S ATLANTA AVE · TULSA, OH 74105

Insurance Commissions

H E M, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

H E M, INC. 401(K) RETIREMENT 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