Retirement plan

RMN MECHANICAL CO., INC 401(K) PENSION PLAN

Name: RMN MECHANICAL CO., INC - RMN MECHANICAL CO., INC 401(K) PENSION PLAN (2024) Form 5500
Creator: RMN MECHANICAL CO., INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RMN MECHANICAL CO., INC 401(K) PENSION PLAN, RMN MECHANICAL CO., INC

RMN MECHANICAL CO., INCEIN 04-3127734Plan #001PY 2024

73 MAIN ST. UNIT E - CARVER, MA 02330508-830-3552rmnmechanical.comLinkedIn11-50 employeesconstruction

Other plans on this EIN

1 filing

#002Retirement-$796K assets

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.8M

+17.0% from 2023

Total participants

+50.0% from 2023

Average account balance

$167,406

-14.9% from 2023

Annual return

11.32%

-5.19 pp from 2023

Benchmarks

See 54,805 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort54,805 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.84M

Not enough data

1 years with asset history on file

Average account balance

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

$167K

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.

137.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$90K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+11.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2485

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 codes2D2E2J3D

Plan features

2D
Offset plan
Plan benefits are subject to offset for retirement benefits provided in another plan or arrangement of the employer.
2E
Profit-sharing
Profit-sharing plan.
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.
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

$27K

$3417 / participant

Other / not subdivided$27K100.0%

% of EOY assets

1.484%

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

$167,406

$110,379+51.7%

$102,412+63.5%

$145,884+14.8%

Participation rate

87.5%

77.9%+9.6pp

74.5%+13.0pp

80.3%+7.2pp

Annual return

11.32%

24.84%-13.5pp

24.94%-13.6pp

551.85%-540.5pp

Employer contribution / active EE

$3,076

$4,216-27.0%

$3,870-20.5%

$4,662-34.0%

Participant deferral / active EE

$8,113

$5,622+44.3%

$5,060+60.3%

$6,690+21.3%

Admin fee / account holder

$2,485

$9,745-74.5%

$8,388-70.4%

$13,392-81.4%

RMN MECHANICAL CO., INC 401(K) PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RMN MECHANICAL CO., INC 401(K) PENSION 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