Retirement plan

ASSOCIATED GENERAL CONTRACTORS OF MAINE 401(K) PROFIT SHARING PLAN AND TRUST

Name: ASSOCIATED GENERAL CONTRACTORS OF MAINE - ASSOCIATED GENERAL CONTRACTORS OF MAINE 401(K) PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: ASSOCIATED GENERAL CONTRACTORS OF MAINE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ASSOCIATED GENERAL CONTRACTORS OF MAINE 401(K) PROFIT SHARING PLAN AND TRUST, ASSOCIATED GENERAL CONTRACTORS OF MAINE

ASSOCIATED GENERAL CONTRACTORS OF MAINEEIN 01-0275734Plan #001PY 2024

188 WHITTEN ROAD - AUGUSTA, ME 04330207-622-4741agcmaine.orgLinkedIn1-10 employeesconstruction

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$15.2M

+6.9% from 2023

Total participants

319

+17.7% from 2023

Average account balance

$51,220

-2.5% from 2023

Annual return

5.73%

-10.31 pp from 2023

Benchmarks

See 3,445 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,445 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.21M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

297

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.

88.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.96M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+5.73%

Not enough data

1 years with return on file

Admin fee / account holder

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

$431

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 5 by compensation

Provider	Service type	Compensation
ATLAS FINANCIAL GROUP, LLC3 years Filed as: ATLAS FIDUCIARY SERVICES, INC Service code 27 123 N STATE ST, UNIT 1 · CONCORD, NH 03301	Advisory (Plan)	$28,547
ATLAS PENSION ADMINISTRATORS, INC3 years Service code 15 · EIN 88-1657710 123 N STATE STREET, UNIT 1 · CONCORD, NH 03301	Recordkeeping	$6,375
VANCE FLOUHOUSE & GARGES, PLLC2 years Filed as: VANCE GRAY WEALTH MANAGEMENT Service code 27 128 BROADWAY · BANGOR, ME 04401	Advisory (Plan)	$4,311
USA LOCAL 829 UNION2 years Filed as: USA FINANCIAL Service code 27 6020 E FULTON ST · ADA, MI 49301	Advisory (Plan)	$66
LINCOLN NATIONAL CORPORATION4 years Service code 13 · EIN 35-1440070	Contract Administrator	$0

Plan features & details

Pension benefit codes2E2F2G2J2T3D2K

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.
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.

Opportunity flags

3 tripped

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

$128K

$670 / participant

Contract admin$128K100.0%

% of EOY assets

0.841%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: TEMPLETON & CO.
Auditor EIN: 141918990
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$51,220

$80,763-36.6%

$102,412-50.0%

$74,459-31.2%

Participation rate

88.5%

65.7%+22.8pp

74.5%+14.0pp

67.2%+21.3pp

Annual return

5.73%

27.57%-21.8pp

24.94%-19.2pp

1369.70%-1364.0pp

Employer contribution / active EE

$2,517

$3,160-20.3%

$3,870-35.0%

$2,626-4.1%

Participant deferral / active EE

$7,755

$3,862+100.8%

$5,060+53.3%

$4,350+78.3%

Admin fee / account holder

$431

$2,371-81.8%

$8,388-94.9%

$1,945-77.9%

Provider

Service type

Compensation

ATLAS FINANCIAL GROUP, LLC3 years

Filed as: ATLAS FIDUCIARY SERVICES, INC

Service code 27

123 N STATE ST, UNIT 1 · CONCORD, NH 03301

Advisory (Plan)

$28,547

ATLAS PENSION ADMINISTRATORS, INC3 years

Service code 15 · EIN 88-1657710

123 N STATE STREET, UNIT 1 · CONCORD, NH 03301

Recordkeeping

$6,375

VANCE FLOUHOUSE & GARGES, PLLC2 years

Filed as: VANCE GRAY WEALTH MANAGEMENT

Service code 27

128 BROADWAY · BANGOR, ME 04401

Advisory (Plan)

$4,311

USA LOCAL 829 UNION2 years

Filed as: USA FINANCIAL

Service code 27

6020 E FULTON ST · ADA, MI 49301

Advisory (Plan)

$66

LINCOLN NATIONAL CORPORATION4 years

Service code 13 · EIN 35-1440070

Contract Administrator

ASSOCIATED GENERAL CONTRACTORS OF MAINE 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ASSOCIATED GENERAL CONTRACTORS OF MAINE 401(K) PROFIT SHARING PLAN AND TRUST

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