Retirement plan

CLARY HOOD AND ASSOCIATES, INC. 401(K) PLAN

Name: CLARY HOOD AND ASSOCIATES, INC. - CLARY HOOD AND ASSOCIATES, INC. 401(K) PLAN (2022) Form 5500
Creator: CLARY HOOD AND ASSOCIATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CLARY HOOD AND ASSOCIATES, INC. 401(K) PLAN, CLARY HOOD AND ASSOCIATES, INC.

CLARY HOOD AND ASSOCIATES, INC.EIN 83-1740574Plan #001PY 2022

150 CONWAY BLACK RD - SPARTANBURG, SC 293075403864-579-8881

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$2.6M

+1.8% from 2021

Total participants

124

+2.5% from 2021

Average account balance

$49,257

+5.6% from 2021

Annual return

-15.11%

-27.77 pp from 2021

Benchmarks

See 2,998 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,998 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.51M

Not enough data

1 years with asset history on file

Average account balance

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

$90K

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.

48.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$505K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.93%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5974

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

Top 3 by compensation

Provider	Service type	Compensation
NORTHWESTERN MUTUAL INVESTMENT SERV3+ years Service code 49 · EIN 52-2114207	Other Services	$5,530
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290	Contract Administrator	$1,579
WILSHIRE ASSOCIATES INCORPORATED1 year Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

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

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$2K

$13 / participant

Contract admin$2K100.0%

% of EOY assets

0.060%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ELLIOTT DAVIS, LLC
Auditor EIN: 570381582
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$49,257

$64,176-23.2%

$112,263-56.1%

$66,949-26.4%

Participation rate

40.8%

68.4%-27.6pp

75.1%-34.2pp

69.8%-29.0pp

Annual return

-15.11%

-13.80%-1.3pp

27.49%-42.6pp

1.57%-16.7pp

Employer contribution / active EE

$1,534

$3,007-49.0%

$3,636-57.8%

$2,545-39.7%

Participant deferral / active EE

$2,919

$3,694-21.0%

$4,729-38.3%

$4,239-31.1%

Admin fee / account holder

$30

$626-95.2%

$6,410-99.5%

$594-95.0%

Provider

Service type

Compensation

NORTHWESTERN MUTUAL INVESTMENT SERV3+ years

Service code 49 · EIN 52-2114207

Other Services

$5,530

PRINCIPAL LIFE INSURANCE COMPANY3+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$1,579

WILSHIRE ASSOCIATES INCORPORATED1 year

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

CLARY HOOD AND ASSOCIATES, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CLARY HOOD AND ASSOCIATES, INC. 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