Retirement plan

MCDONALD ELECTRIC CORP. 401(K) PROFIT SHARING PLAN

Name: MCDONALD ELECTRICAL CORP. - MCDONALD ELECTRIC CORP. 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: MCDONALD ELECTRICAL CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCDONALD ELECTRIC CORP. 401(K) PROFIT SHARING PLAN, MCDONALD ELECTRICAL CORP.

MCDONALD ELECTRICAL CORP.EIN 04-3462237Plan #001PY 2020

72 SHARP STREET, UNIT C-8 - HINGHAM, MA 02043781-340-0008mcdonaldcorp.comLinkedIn201-500 employeesconstruction

Prospect flagsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$3.1M

+40.2% from 2019

Total participants

111

+30.6% from 2019

Average account balance

$27,898

+7.4% from 2019

Annual return

23.89%

+1.17 pp from 2019

Benchmarks

See 16,250 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort16,250 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.58M

Not enough data

1 years with asset history on file

Average account balance

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

$69K

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.

126.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$821K

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

+15.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$14666

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.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$174K

$2899 / participant

Other / not subdivided$174K100.0%

% of EOY assets

5.617%

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

$27,898

$72,269-61.4%

$101,271-72.5%

$79,852-65.1%

Participation rate

100.0%

68.5%+31.5pp

75.8%+24.2pp

69.6%+30.4pp

Annual return

23.89%

22.29%+1.6pp

46.48%-22.6pp

31.72%-7.8pp

Employer contribution / active EE

$2,784

$2,692+3.4%

$3,660-23.9%

$2,471+12.7%

Participant deferral / active EE

$5,851

$3,282+78.3%

$4,371+33.9%

$3,740+56.4%

Admin fee / account holder

$1,567

$4,401-64.4%

$5,948-73.7%

$5,306-70.5%

MCDONALD ELECTRIC CORP. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCDONALD ELECTRIC CORP. 401(K) 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