Retirement plan

HFS 401(K) PROFIT SHARING PLAN

Name: BK WEALTH MANAGEMENT LLC DBA HADDAD FINANCIAL SERVICES - HFS 401(K) PROFIT SHARING PLAN (2020) 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 2020

8340 MISSION ROAD, SUITE 205 - PRAIRIE VILLAGE, KS 66206816-753-8228

Prospect flagsLow assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$63K

No prior year

Total participants

No prior year

Average account balance

$31,650

No prior year

Annual return

0.00%

No prior year

Benchmarks

See 32,151 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort32,151 peers

Snapshot2020

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

2 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

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

$31,650

$197,625-84.0%

$177,840-82.2%

$158,966-80.1%

Participation rate

100.0%

88.5%+11.5pp

87.7%+12.3pp

82.0%+18.0pp

Annual return

0.00%

58.76%-58.8pp

48.32%-48.3pp

302.95%-302.9pp

Employer contribution / active EE

$20,929

$6,698+212.5%

$5,919+253.6%

$4,762+339.5%

Participant deferral / active EE

$10,417

$8,405+23.9%

$7,714+35.0%

$5,983+74.1%

Admin fee / account holder

$15,405-100.0%

$12,431-100.0%

$11,250-100.0%

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