Retirement plan

HAFFNER, HAFFNER, & SPEARS, LLP 401(K) PLAN

Name: HAFFNER, HAFFNER, & SPEARS, LLP - HAFFNER, HAFFNER, & SPEARS, LLP 401(K) PLAN (2023) Form 5500
Creator: HAFFNER, HAFFNER, & SPEARS, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HAFFNER, HAFFNER, & SPEARS, LLP 401(K) PLAN, HAFFNER, HAFFNER, & SPEARS, LLP

HAFFNER, HAFFNER, & SPEARS, LLPEIN 76-0658066Plan #001PY 2023

13827 BROWN ROAD - TOMBALL, TX 773774083281-351-6423tomballcpas.comLinkedIn1-10 employeesaccounting

Prospect flagsHigh feesLow participationHigh assets / participant

How to read this page

Total assets (EOY)

$1.6M

+38.4% from 2022

Total participants

0.0% from 2022

Average account balance

$401,244

+38.4% from 2022

Annual return

30.49%

+49.20 pp from 2022

Benchmarks

See 18,494 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants<25

Cohort18,494 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.23M

Not enough data

1 years with asset history on file

Average account balance

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

$447K

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.

71.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$95K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+14.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1309

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 codes2E2F2G2J2T3D

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$4K

$629 / participant

Other / not subdivided$4K100.0%

% of EOY assets

0.274%

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

$401,244

$96,361+316.4%

$80,607+397.8%

$139,456+187.7%

Participation rate

57.1%

73.6%-16.5pp

67.0%-9.9pp

80.3%-23.2pp

Annual return

30.49%

1350.95%-1320.5pp

936.11%-905.6pp

373.45%-343.0pp

Employer contribution / active EE

$2,107

$3,262-35.4%

$2,724-22.7%

$4,753-55.7%

Participant deferral / active EE

$10,950

$5,232+109.3%

$4,448+146.2%

$6,711+63.2%

Admin fee / account holder

$1,101

$6,601-83.3%

$5,379-79.5%

$11,407-90.4%

HAFFNER, HAFFNER, & SPEARS, LLP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HAFFNER, HAFFNER, & SPEARS, LLP 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