Retirement plan

MCKINNON BROS INC. 401(K) PROFIT SHARING PLAN AND TRUST

Name: MCKINNON BROS INC. - MCKINNON BROS INC. 401(K) PROFIT SHARING PLAN AND TRUST (2020) Form 5500
Creator: MCKINNON BROS INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCKINNON BROS INC. 401(K) PROFIT SHARING PLAN AND TRUST, MCKINNON BROS INC.

MCKINNON BROS INC.EIN 04-2038342Plan #001PY 2020

2454 LAFAYETTE RD - PORTSMOUTH, NH 03801978-774-0479LinkedIn201-500 employeesfood & beverages

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$6.6M

+23.0% from 2019

Total participants

218

+0.5% from 2019

Average account balance

$50,508

+26.8% from 2019

Annual return

16.98%

-3.33 pp from 2019

Benchmarks

See 2,198 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,198 peers

Snapshot2020

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Analytics

Total assets (EOY)

Plan-year ending balance

$9.66M

Not enough data

1 years with asset history on file

Average account balance

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

$67K

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.

145

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.

38.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$470K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+13.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$391

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 3 by compensation

Provider	Service type	Compensation
BOSTON HILL ADVISORS LLC6+ years Filed as: BOSTON HILL ADVISORS Service code 28 · EIN 20-5369878 100 ANDOVER BYPASS ST. STE. 201 · NORTH ANDOVER, MA 01845	Investment Management	$25,946
NORTH AMERICAN KTRADE ALLIANCE, LLC5 years Filed as: NO AMERICAN KTRADE ALLIANCE, LLC Service code 15 · EIN 32-0169227 1500 NORTH OAK DRIVE, SUITE B · PLYMOUTH, IN 46563	Recordkeeping	$4,315
CHARLES SCHWAB & CO., INC.6+ years Filed as: CHARLES SCHWAB TRUST COMPANY Service code 10 · EIN 42-1558009 12401 RESEARCH BLVD · AUSTIN, TX 78759	Accounting	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D3H

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$32K

$193 / participant

Contract admin$32K100.0%

% of EOY assets

0.485%

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: BRITT & COMPANY CPA LLC
Auditor EIN: 450604259
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$50,508

$54,573-7.4%

$90,951-44.5%

$73,488-31.3%

Participation rate

47.6%

61.2%-13.6pp

69.0%-21.4pp

70.7%-23.1pp

Annual return

16.98%

16.69%+0.3pp

134.60%-117.6pp

28.51%-11.5pp

Employer contribution / active EE

$954

$991-3.8%

$2,122-55.1%

$2,270-58.0%

Participant deferral / active EE

$1,506

$2,517-40.2%

$3,373-55.3%

$3,740-59.7%

Admin fee / account holder

$245

$521-53.1%

$5,959-95.9%

$513-52.3%

Provider

Service type

Compensation

BOSTON HILL ADVISORS LLC6+ years

Filed as: BOSTON HILL ADVISORS

Service code 28 · EIN 20-5369878

100 ANDOVER BYPASS ST. STE. 201 · NORTH ANDOVER, MA 01845

Investment Management

$25,946

NORTH AMERICAN KTRADE ALLIANCE, LLC5 years

Filed as: NO AMERICAN KTRADE ALLIANCE, LLC

Service code 15 · EIN 32-0169227

1500 NORTH OAK DRIVE, SUITE B · PLYMOUTH, IN 46563

Recordkeeping

$4,315

CHARLES SCHWAB & CO., INC.6+ years

Filed as: CHARLES SCHWAB TRUST COMPANY

Service code 10 · EIN 42-1558009

12401 RESEARCH BLVD · AUSTIN, TX 78759

Accounting

MCKINNON BROS INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCKINNON BROS INC. 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