Retirement plan

MIRICK, O'CONNELL, DEMALLIE & LOUGEE, LLP SAVINGS AND RETIREMENT PLAN AND TRUST

Name: MIRICK, O'CONNELL, DEMALLIE & LOUGEE, LLP - MIRICK, O'CONNELL, DEMALLIE & LOUGEE, LLP SAVINGS AND RETIREMENT PLAN AND TRUST (2020) Form 5500
Creator: MIRICK, O'CONNELL, DEMALLIE & LOUGEE, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIRICK, O'CONNELL, DEMALLIE & LOUGEE, LLP SAVINGS AND RETIREMENT PLAN AND TRUST, MIRICK, O'CONNELL, DEMALLIE & LOUGEE, LLP

MIRICK, O'CONNELL, DEMALLIE & LOUGEE, LLPEIN 04-2203347Plan #002PY 2020

100 FRONT STREET - WORCESTER, MA 01608508-791-8500modl.comLinkedIn11-50 employees

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$65.1M

+19.0% from 2019

Total participants

150

-4.5% from 2019

Average account balance

$434,331

+23.8% from 2019

Annual return

15.36%

-6.77 pp from 2019

Benchmarks

See 5,591 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,591 peers

Snapshot2020

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Analytics

Total assets (EOY)

Plan-year ending balance

$84.03M

Not enough data

1 years with asset history on file

Average account balance

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

$464K

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.

181

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.

99.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.61M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$26K

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

+12.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$250

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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Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL2 years Service code 37 · EIN 04-2647786	Loan Processing	$31,043
DIMEO SCHNEIDER & ASSOCIATES LLC1 year Service code 16 · EIN 36-4001764	Consulting	$15,000
STOWE & DEGON, LLC1 year Filed as: STOWE & DEGON LLC Service code 10 · EIN 04-3379904	Accounting	$11,800
FIDUCIARY INVESTMENT ADVISORS6+ years Service code 16 · EIN 20-4751585	Consulting	$7,500

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3B3D2R

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$65K

$526 / participant

Other / not subdivided$65K100.0%

% of EOY assets

0.100%

all-in expense ratio

Categories reported

0 / 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: STOWE & DEGON LLC
Auditor EIN: 043379904
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$434,331

$99,957+334.5%

$149,696+190.1%

$73,488+491.0%

Participation rate

100.0%

75.7%+24.3pp

82.5%+17.5pp

70.7%+29.3pp

Annual return

15.36%

53.87%-38.5pp

276.60%-261.2pp

28.51%-13.2pp

Employer contribution / active EE

$7,850

$3,191+146.0%

$4,644+69.0%

$2,270+245.8%

Participant deferral / active EE

$14,396

$6,073+137.1%

$6,842+110.4%

$3,740+285.0%

Admin fee / account holder

$434

$551-21.1%

$9,309-95.3%

$513-15.3%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL2 years

Service code 37 · EIN 04-2647786

Loan Processing

$31,043

DIMEO SCHNEIDER & ASSOCIATES LLC1 year

Service code 16 · EIN 36-4001764

Consulting

$15,000

STOWE & DEGON, LLC1 year

Filed as: STOWE & DEGON LLC

Service code 10 · EIN 04-3379904

Accounting

$11,800

FIDUCIARY INVESTMENT ADVISORS6+ years

Service code 16 · EIN 20-4751585

Consulting

$7,500

MIRICK, O'CONNELL, DEMALLIE & LOUGEE, LLP SAVINGS AND RETIREMENT PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIRICK, O'CONNELL, DEMALLIE & LOUGEE, LLP SAVINGS AND RETIREMENT 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