Retirement plan

STRONG & HANNI 401(K) PROFIT SHARING PLAN

Name: STRONG & HANNI, P.C. - STRONG & HANNI 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: STRONG & HANNI, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STRONG & HANNI 401(K) PROFIT SHARING PLAN, STRONG & HANNI, P.C.

STRONG & HANNI, P.C.EIN 87-0404056Plan #001PY 2024

102 SOUTH 200 EAST, SUITE 800 - SALT LAKE CITY, UT 84111801-532-7080

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$42.9M

+19.4% from 2023

Total participants

197

+9.4% from 2023

Average account balance

$220,894

+10.2% from 2023

Annual return

15.18%

-3.83 pp from 2023

Benchmarks

See 6,280 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,280 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$42.85M

Not enough data

1 years with asset history on file

Average account balance

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

$221K

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.

194

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.

98.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.31M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+15.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$535

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
STANCORP FINANCIAL GROUP10+ years Service code 12 · EIN 93-1253576	Custodial (other than securities); Di...	$56,873
ONEDIGITAL INVESTMENT ADVISORS LLC1 year Service code 27 · EIN 43-1451524	Advisory (Plan)	$44,490
CHARLES SCHWAB & CO., INC.5 years Filed as: CHARLES SCHWAB TRUST Service code 19 · EIN 42-1558009	Securities Custodian	$12,544
OSAIC WEALTH INC1 year Filed as: OSAIC WEALTH, INC. Service code 27 · EIN 93-0987232	Advisory (Plan)	$2,342

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$104K

$640 / participant

Investment mgmt$47K45.2%
Contract admin$57K54.8%

% of EOY assets

0.242%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: EIDE BAILLY, LLP
Auditor EIN: 450250958
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$220,894

$101,653+117.3%

$147,080+50.2%

$74,459+196.7%

Participation rate

98.1%

75.6%+22.6pp

82.2%+16.0pp

67.2%+30.9pp

Annual return

15.18%

8754.98%-8739.8pp

420.17%-405.0pp

1369.70%-1354.5pp

Employer contribution / active EE

$11,989

$3,813+214.4%

$4,933+143.0%

$2,626+356.6%

Participant deferral / active EE

$8,454

$7,304+15.7%

$8,066+4.8%

$4,350+94.4%

Admin fee / account holder

$535

$1,752-69.5%

$12,989-95.9%

$1,945-72.5%

Provider

Service type

Compensation

STANCORP FINANCIAL GROUP10+ years

Service code 12 · EIN 93-1253576

Custodial (other than securities); Di...

$56,873

ONEDIGITAL INVESTMENT ADVISORS LLC1 year

Service code 27 · EIN 43-1451524

Advisory (Plan)

$44,490

CHARLES SCHWAB & CO., INC.5 years

Filed as: CHARLES SCHWAB TRUST

Service code 19 · EIN 42-1558009

Securities Custodian

$12,544

OSAIC WEALTH INC1 year

Filed as: OSAIC WEALTH, INC.

Service code 27 · EIN 93-0987232

Advisory (Plan)

$2,342

STRONG & HANNI 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STRONG & HANNI 401(K) PROFIT SHARING 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