Benchmarking Hudson Meridian Contruction Group Employees' Savings Plan in New York, NY against all plans
Hudson Meridian Contruction Group Employees' Savings Plan in New York, NY paid the highest investment advisory and management fees ($65,012) of the 181 plans whose industry group is Nonresidential Building Construction and have at most $65,732 in total administrative expenses.
That is, among those 181 plans that do well or OK on one measure, Hudson Meridian Contruction Group Employees' Savings Plan does least well on a related measure. Those $65,012 compare to an average of $7,169 across the 181 plans.
That is, among those 181 plans that do well or OK on one measure, Hudson Meridian Contruction Group Employees' Savings Plan does least well on a related measure. Those $65,012 compare to an average of $7,169 across the 181 plans.
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Peers
after Hudson Meridian Contruction Group Employees' Savings Plan in New York, NY ($65,012, $65,732), closest are Reeves Young Profit Sharing Plan in Sugar Hill, GA ($59,137, $59,137), Skyline Construction Enterprises, Inc. 401(K) Profit Sharing Plan and Trust in San Francisco, CA ($58,448, $60,637), Weaver Cooke Construction, LLC Profit Sharing/401(K) Plan in Greensboro, NC ($56,941, $58,876), and BCCI 401(K) Profit Sharing Plan in San Francisco, CA ($55,792, $59,902), ending with D.E.W. Construction 401(K) Profit Sharing Plan in Williston, VT ($0, -$3,698).
Taking Action
Read the article A Unique Way to Get Others to Improve to understand the reasoning underlying such benchmarking insights.
References
- whose industry group is. The industry group is the first four digits from the six-digit NAICS business code, Line 2d in Form 5500, which best describes the nature of the plan sponsor’s business, from the available list. If more than one employer or employee organization is involved, filers are asked to enter the business code for the main business activity of the employer and/or employee organizations. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
- investment advisory and management fees. Lower values are better. From Line 2i(3), Schedule H. The total fees paid (or in the case of accrual basis plans, costs incurred during the plan year but not paid as of the end of the plan year) to an individual, partnership or corporation (or other person) for advice to the plan relating to its investment portfolio. These may include fees paid to manage the plan’s investments, fees for specific advice on a particular investment, and fees for the evaluation for the plan’s investment performance. A missing entry from the Schedule H is here assigned a value of $0. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
- total administrative expenses. Lower values are better. From Line 2i(5), Schedule H. A missing entry from the Schedule H is here assigned a value of $0. Note that total administrative expenses = professional fees + contract administrator fees + investment advisory and management fees + other administrative expenses. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.