Retirement plan

M.L. SCHMITT INC. PROFIT SHARING PLAN

Name: M L SCHMITT INC - M.L. SCHMITT INC. PROFIT SHARING PLAN (2018) Form 5500
Creator: M L SCHMITT INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, M.L. SCHMITT INC. PROFIT SHARING PLAN, M L SCHMITT INC

M L SCHMITT INCEIN 04-2196806Plan #001PY 2018

P.O. BOX 2070 - SPRINGFIELD, MA 01101413-733-7868LinkedIn11-50 employeesconstruction

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.9M

-1.7% from 2017

Total participants

-17.6% from 2017

Average account balance

$159,813

-9.9% from 2017

Annual return

-6.81%

-18.67 pp from 2017

Benchmarks

See 38,940 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort38,940 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.03M

Not enough data

1 years with asset history on file

Average account balance

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

$97K

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.

116.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$386K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+15.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$76

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

2 tripped

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

$4K

$482 / participant

Other / not subdivided$4K100.0%

% of EOY assets

0.201%

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

$159,813

$97,732+63.5%

$83,831+90.6%

$135,380+18.0%

Participation rate

75.0%

80.0%-5.0pp

76.1%-1.1pp

82.6%-7.6pp

Annual return

-6.81%

1287.56%-1294.4pp

850.99%-857.8pp

519.81%-526.6pp

Employer contribution / active EE

$10,513

$4,222+149.0%

$3,631+189.5%

$4,779+120.0%

Participant deferral / active EE

$1,944

$4,683-58.5%

$4,082-52.4%

$5,609-65.3%

Admin fee / account holder

$321

$6,675-95.2%

$5,479-94.1%

$10,828-97.0%

M.L. SCHMITT INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

M.L. SCHMITT INC. 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