Retirement plan

SCOTT HERON 401(K) PLAN

Name: SCOTT HERON CFP, CMFC, CHFC - SCOTT HERON 401(K) PLAN (2024) Form 5500
Creator: SCOTT HERON CFP, CMFC, CHFC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCOTT HERON 401(K) PLAN, SCOTT HERON CFP, CMFC, CHFC

SCOTT HERON CFP, CMFC, CHFCEIN 77-0439714Plan #001PY 2024

1718 W WALNUT AVE. - VISALIA, CA 93277559-733-8756

Other plans on this EIN

1 filing

#002Retirement-$939K assets

Prospect flagsLow returnsLow participationHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$3.7M

+10.8% from 2023

Total participants

+33.3% from 2023

Average account balance

$1,241,485

+10.8% from 2023

Annual return

9.31%

-389.68 pp from 2023

Benchmarks

See 37,167 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,167 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.95M

Not enough data

1 years with asset history on file

Average account balance

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

$1.3M

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$41K

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

+4.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$594

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 codes2A2E2J2K3B3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
2E
Profit-sharing
Profit-sharing plan.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

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

$1,241,485

$201,264+516.8%

$184,185+574.0%

$145,978+750.5%

Participation rate

66.7%

87.5%-20.8pp

86.8%-20.2pp

80.3%-13.6pp

Annual return

9.31%

29.00%-19.7pp

28.81%-19.5pp

550.52%-541.2pp

Employer contribution / active EE

$6,901

$7,021-1.7%

$6,426+7.4%

$4,662+48.0%

Participant deferral / active EE

$10,167

$9,806+3.7%

$9,132+11.3%

$6,690+52.0%

Admin fee / account holder

$16,376-100.0%

$13,909-100.0%

$13,400-100.0%

SCOTT HERON 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

SCOTT HERON 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion