Retirement plan

HFS 401(K) PROFIT SHARING PLAN

Name: BK WEALTH MANAGEMENT LLC DBA HADDAD FINANCIAL SERVICES - HFS 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: BK WEALTH MANAGEMENT LLC DBA HADDAD FINANCIAL SERVICES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HFS 401(K) PROFIT SHARING PLAN, BK WEALTH MANAGEMENT LLC DBA HADDAD FINANCIAL SERVICES

BK WEALTH MANAGEMENT LLC DBA HADDAD FINANCIAL SERVICESEIN 81-3796228Plan #001PY 2024

8340 MISSION ROAD, SUITE 205 - PRAIRIE VILLAGE, KS 66206816-536-2132

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$744K

+28.9% from 2023

Total participants

+33.3% from 2023

Average account balance

$186,006

-3.3% from 2023

Annual return

12.82%

-10.79 pp from 2023

Benchmarks

See 37,126 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,126 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$744K

Not enough data

1 years with asset history on file

Average account balance

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

$186K

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

$93K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$23K

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

+12.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2F2J2R3B3D

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).
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

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

$186,006

$201,344-7.6%

$184,243+1.0%

$145,877+27.5%

Participation rate

100.0%

87.5%+12.5pp

86.8%+13.2pp

80.3%+19.7pp

Annual return

12.82%

29.01%-16.2pp

28.82%-16.0pp

551.28%-538.5pp

Employer contribution / active EE

$14,998

$7,022+113.6%

$6,427+133.4%

$4,663+221.6%

Participant deferral / active EE

$8,186

$9,807-16.5%

$9,132-10.4%

$6,691+22.4%

Admin fee / account holder

$16,382-100.0%

$13,914-100.0%

$13,402-100.0%

HFS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

HFS 401(K) PROFIT SHARING 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