Retirement plan

MASSMEDIC 401K PLAN

Name: MASSACHUSETTS MEDICAL DEVICE INDUSTRY COUNCIL - MASSMEDIC 401K PLAN (2024) Form 5500
Creator: MASSACHUSETTS MEDICAL DEVICE INDUSTRY COUNCIL
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MASSMEDIC 401K PLAN, MASSACHUSETTS MEDICAL DEVICE INDUSTRY COUNCIL

MASSACHUSETTS MEDICAL DEVICE INDUSTRY COUNCILEIN 04-3345676Plan #001PY 2024

650 ALBANY ST, SUITE 105 - BOSTON, MA 02118617-414-1340LinkedIn11-50 employeesmedical devices

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$449K

+43.9% from 2023

Total participants

-20.0% from 2023

Average account balance

$112,164

+79.9% from 2023

Annual return

17.15%

+3.56 pp from 2023

Benchmarks

See 50,062 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort50,062 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$449K

Not enough data

1 years with asset history on file

Average account balance

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

$112K

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$92K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$31K

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

+17.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2319

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 codes2E2G2J3D2R

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$9K

$3091 / participant

Other / not subdivided$9K100.0%

% of EOY assets

2.067%

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

$112,164

$88,702+26.5%

$81,780+37.2%

$145,978-23.2%

Participation rate

100.0%

75.0%+25.0pp

72.4%+27.6pp

80.3%+19.7pp

Annual return

17.15%

1029.12%-1012.0pp

776.27%-759.1pp

550.52%-533.4pp

Employer contribution / active EE

$10,000

$3,084+224.2%

$2,914+243.2%

$4,662+114.5%

Participant deferral / active EE

$20,586

$4,645+343.2%

$4,321+376.5%

$6,690+207.7%

Admin fee / account holder

$2,319

$8,414-72.4%

$7,384-68.6%

$13,400-82.7%

MASSMEDIC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MASSMEDIC 401K 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