Retirement plan

MACOMBER FARR & WHITTEN 401(K) PROFIT SHARING PLAN

Name: MACOMBER FARR & WHITTEN - MACOMBER FARR & WHITTEN 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: MACOMBER FARR & WHITTEN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MACOMBER FARR & WHITTEN 401(K) PROFIT SHARING PLAN, MACOMBER FARR & WHITTEN

MACOMBER FARR & WHITTENEIN 01-0264335Plan #001PY 2023

ONE MARKET SQUARE, SUITE 201 - AUGUSTA, ME 04330207-623-4575LinkedIn11-50 employeesinsurance

Prospect flagsHigh feesLow participant contributionLow fidelity bond

How to read this page

Total assets (EOY)

$834K

+17.3% from 2022

Total participants

0.0% from 2022

Average account balance

$139,060

+17.3% from 2022

Annual return

14.34%

+29.79 pp from 2022

Benchmarks

See 36,165 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,165 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.00M

Not enough data

1 years with asset history on file

Average account balance

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

$201K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$30K

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

+13.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$21831

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

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

3 tripped

OpportunityLow participant contribution
Participant 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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$8K

$1610 / participant

Other / not subdivided$8K100.0%

% of EOY assets

0.965%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$139,060

$185,883-25.2%

$170,043-18.2%

$139,466-0.3%

Participation rate

100.0%

87.8%+12.2pp

87.0%+13.0pp

80.3%+19.7pp

Annual return

14.34%

60.54%-46.2pp

53.40%-39.1pp

373.66%-359.3pp

Employer contribution / active EE

$1,665

$7,596-78.1%

$6,790-75.5%

$4,754-65.0%

Participant deferral / active EE

$2,575

$11,626-77.9%

$10,410-75.3%

$6,712-61.6%

Admin fee / account holder

$1,342

$15,393-91.3%

$12,824-89.5%

$11,409-88.2%

MACOMBER FARR & WHITTEN 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MACOMBER FARR & WHITTEN 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