Retirement plan

HOFFMAN CORPORATION 401(K) PLAN

Name: HOFFMAN CORPORATION - HOFFMAN CORPORATION 401(K) PLAN (2023) Form 5500
Creator: HOFFMAN CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOFFMAN CORPORATION 401(K) PLAN, HOFFMAN CORPORATION

HOFFMAN CORPORATIONEIN 93-0724603Plan #004PY 2023

805 SW BROADWAY, SUITE 2100 - PORTLAND, OR 97205503-221-8811hoffmanlawpnw.comLinkedIn1-10 employeeslegal services

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$13.3M

+59.6% from 2022

Total participants

728

+8.2% from 2022

Average account balance

$31,080

+44.3% from 2022

Annual return

26.03%

+28.15 pp from 2022

Benchmarks

See 1,502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,502 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.05M

Not enough data

1 years with asset history on file

Average account balance

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

$39K

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.

490

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.

58.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.05M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+16.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$85

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 2 by compensation

Provider	Service type	Compensation
NWPS4 years Service code 15 · EIN 91-1526584 15130 MAIN ST SUITE 300 · MILL CREEK, WA 98012	Recordkeeping	$30,956
MATRIX TRUST COMPANY2 years Service code 19 · EIN 51-0099033 717 17TH STREET · DENVER, CO 80202	Securities Custodian	$4,532

Plan features & details

Pension benefit codes2F2J2G3D3H

Plan features

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$35K

$54 / participant

Recordkeeping$31K87.2%
Trustee / custodial$5K12.8%

% of EOY assets

0.267%

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: MOSS ADAMS, LLP
Auditor EIN: 910189318
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$31,080

$93,010-66.6%

$96,520-67.8%

$74,440-58.2%

Participation rate

54.1%

71.6%-17.4pp

74.3%-20.2pp

70.7%-16.6pp

Annual return

26.03%

37.50%-11.5pp

35.72%-9.7pp

34.37%-8.3pp

Employer contribution / active EE

$3,427-100.0%

$3,739-100.0%

$2,638-100.0%

Participant deferral / active EE

$5,196

$3,971+30.8%

$4,879+6.5%

$4,529+14.7%

Admin fee / account holder

$83

$633-86.9%

$6,733-98.8%

$348-76.2%

Provider

Service type

Compensation

NWPS4 years

Service code 15 · EIN 91-1526584

15130 MAIN ST SUITE 300 · MILL CREEK, WA 98012

Recordkeeping

$30,956

MATRIX TRUST COMPANY2 years

Service code 19 · EIN 51-0099033

717 17TH STREET · DENVER, CO 80202

Securities Custodian

$4,532

HOFFMAN CORPORATION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOFFMAN CORPORATION 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