Retirement plan

HARVEY 401(K) PLAN

Name: HARVEY & MADDING, INC. DBA DUBLIN HONDA - HARVEY 401(K) PLAN (2023) Form 5500
Creator: HARVEY & MADDING, INC. DBA DUBLIN HONDA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HARVEY 401(K) PLAN, HARVEY & MADDING, INC. DBA DUBLIN HONDA

HARVEY & MADDING, INC. DBA DUBLIN HONDAdba DUBLIN HONDAEIN 94-2435867Plan #003PY 2023

6300 DUBLIN BLVD - DUBLIN, CA 94568925-828-8030

Prospect flagsLow returnsHigh feesLow participationLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$22M

+11.6% from 2022

Total participants

337

+9.8% from 2022

Average account balance

$97,664

-1.8% from 2022

Annual return

13.75%

+27.06 pp from 2022

Benchmarks

See 1,316 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,316 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$22.44M

Not enough data

1 years with asset history on file

Average account balance

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

$101K

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.

223

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.

54.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.55M

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

+14.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$506

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
TRANSAMERICA RETIREMENT SOLUTIONS4 years Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399	Recordkeeping	$58,631
MERRILL LYNCH PIERCE FENNER & SMITH4 years Filed as: MERRILL LYNCH LIFE AGENCY INC. Service code 16 · EIN 13-2808480	Consulting	$43,883
AL DEROO & ASSOCIATES8 years Filed as: ALPHONSE DEROO & ASSOCIATES Service code 10 · EIN 94-1154481	Accounting	$15,965
POMARES & CO.1 year Filed as: POMARES & CO, LLP Service code 10 · EIN 94-1538492	Accounting	$13,400

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H2A

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$132K

$469 / participant

Recordkeeping$59K44.5%
Investment mgmt$44K33.3%
Other / not subdivided$29K22.3%

% of EOY assets

0.600%

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: POMARES & CO, LLP
Auditor EIN: 941538492
Audit fees: $29,365
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$97,664

$53,165+83.7%

$86,235+13.3%

$74,473+31.1%

Participation rate

60.1%

64.9%-4.7pp

69.0%-8.8pp

70.7%-10.6pp

Annual return

13.75%

22.64%-8.9pp

1170.03%-1156.3pp

34.36%-20.6pp

Employer contribution / active EE

$272

$1,210-77.5%

$2,381-88.6%

$2,638-89.7%

Participant deferral / active EE

$4,197

$3,234+29.7%

$3,987+5.3%

$4,530-7.4%

Admin fee / account holder

$586

$551+6.3%

$6,856-91.5%

$347+68.9%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS4 years

Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN

Service code 15 · EIN 36-6071399

Recordkeeping

$58,631

MERRILL LYNCH PIERCE FENNER & SMITH4 years

Filed as: MERRILL LYNCH LIFE AGENCY INC.

Service code 16 · EIN 13-2808480

Consulting

$43,883

AL DEROO & ASSOCIATES8 years

Filed as: ALPHONSE DEROO & ASSOCIATES

Service code 10 · EIN 94-1154481

Accounting

$15,965

POMARES & CO.1 year

Filed as: POMARES & CO, LLP

Service code 10 · EIN 94-1538492

Accounting

$13,400

HARVEY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HARVEY 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