Retirement plan

MACKAY MITCHELL ENVELOPE COMPANY, LLC RETIREMENT SAVINGS PLAN

Name: MACKAY MITCHELL ENVELOPE COMPANY, LLC - MACKAY MITCHELL ENVELOPE COMPANY, LLC RETIREMENT SAVINGS PLAN (2018) Form 5500
Creator: MACKAY MITCHELL ENVELOPE COMPANY, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MACKAY MITCHELL ENVELOPE COMPANY, LLC RETIREMENT SAVINGS PLAN, MACKAY MITCHELL ENVELOPE COMPANY, LLC

MACKAY MITCHELL ENVELOPE COMPANY, LLCEIN 01-0893495Plan #002PY 2018

2100 ELM STREET SE - MINNEAPOLIS, MN 554142597612-378-6257

Prospect flagsLow returnsHigh feesLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$15.5M

-9.8% from 2017

Total participants

299

-7.1% from 2017

Average account balance

$90,827

-7.2% from 2017

Annual return

-6.41%

-23.93 pp from 2017

Benchmarks

See 1,154 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort1,154 peers

Snapshot2018

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$14.89M

Not enough data

1 years with asset history on file

Average account balance

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

$103K

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.

144

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.

51.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$575K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+10.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$609

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
AMERICAN UNITED LIFE INSURANCE CO3 years Filed as: ONEAMERICA RETIREMENT SERVICES, LLC Service code 15 · EIN 46-5378846	Recordkeeping	$57,564
HAYS FINANCIAL GROUP4+ years Filed as: HAYS COMPANIES Service code 28 80 SOUTH EIGHTH STREET · MINNEAPOLIS, MN 55402	Investment Management	$25,297
LURIE, LLP1 year Filed as: LURIE,LLP Service code 10 · EIN 41-0721734	Accounting	$8,000
BMO HARRIS BANK NA3 years Filed as: BMO HARRIS BANK, NA Service code 19 · EIN 36-2085229	Securities Custodian	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T3B3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$91K

$355 / participant

Investment mgmt$25K27.8%
Other / not subdivided$66K72.2%

% of EOY assets

0.585%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: LURIE,LLP
Auditor EIN: 410721734
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$90,827

$65,223+39.3%

$80,019+13.5%

$55,725+63.0%

Participation rate

50.0%

80.6%-30.6pp

75.8%-25.8pp

70.9%-20.9pp

Annual return

-6.41%

7.59%-14.0pp

11.22%-17.6pp

244.93%-251.3pp

Employer contribution / active EE

$2,544-100.0%

$2,468-100.0%

$2,078-100.0%

Participant deferral / active EE

$1,988

$3,881-48.8%

$3,686-46.1%

$3,356-40.8%

Admin fee / account holder

$531

$114+365.3%

$6,521-91.9%

$115+361.3%

Provider

Service type

Compensation

AMERICAN UNITED LIFE INSURANCE CO3 years

Filed as: ONEAMERICA RETIREMENT SERVICES, LLC

Service code 15 · EIN 46-5378846

Recordkeeping

$57,564

HAYS FINANCIAL GROUP4+ years

Filed as: HAYS COMPANIES

Service code 28

80 SOUTH EIGHTH STREET · MINNEAPOLIS, MN 55402

Investment Management

$25,297

LURIE, LLP1 year

Filed as: LURIE,LLP

Service code 10 · EIN 41-0721734

Accounting

$8,000

BMO HARRIS BANK NA3 years

Filed as: BMO HARRIS BANK, NA

Service code 19 · EIN 36-2085229

Securities Custodian

MACKAY MITCHELL ENVELOPE COMPANY, LLC RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MACKAY MITCHELL ENVELOPE COMPANY, LLC RETIREMENT SAVINGS 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