Retirement plan

HARRIS ENERGY SOLUTIONS, LLC 401(K) PLAN

Name: HARRIS ENERGY SOLUTIONS, LLC - HARRIS ENERGY SOLUTIONS, LLC 401(K) PLAN (2022) Form 5500
Creator: HARRIS ENERGY SOLUTIONS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HARRIS ENERGY SOLUTIONS, LLC 401(K) PLAN, HARRIS ENERGY SOLUTIONS, LLC

HARRIS ENERGY SOLUTIONS, LLCEIN 82-0801077Plan #001PY 2022

4509 ARIA COVE - ROUND ROCK, TX 78681512-762-5007hesconnect.comLinkedIn11-50 employeesrenewables & environment

Prospect flagsLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$203K

+4.4% from 2021

Total participants

+50.0% from 2021

Average account balance

$25,421

-34.7% from 2021

Annual return

-15.75%

-15.75 pp from 2021

Benchmarks

See 48,278 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort48,278 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$655K

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

137.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$196K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+13.40%

Not enough data

1 years with return on file

Admin fee / account holder

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

$51

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 codes2E2J2F2G3D3B

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.
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 employer contribution
Employer contribution per participant 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).

Expense breakdown

Schedule H Part II

Admin total

$657

$82 / participant

Other / not subdivided$657100.0%

% of EOY assets

0.323%

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

$25,421

$133,981-81.0%

$112,249-77.4%

$134,532-81.1%

Participation rate

87.5%

78.6%+8.9pp

75.1%+12.4pp

81.2%+6.3pp

Annual return

-15.75%

47.16%-62.9pp

27.48%-43.2pp

418.27%-434.0pp

Employer contribution / active EE

$4,040-100.0%

$3,636-100.0%

$4,741-100.0%

Participant deferral / active EE

$4,913

$5,292-7.2%

$4,729+3.9%

$6,401-23.2%

Admin fee / account holder

$82

$7,492-98.9%

$6,412-98.7%

$11,429-99.3%

HARRIS ENERGY SOLUTIONS, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HARRIS ENERGY SOLUTIONS, LLC 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