Retirement plan

M & G INDUSTRIES, INC. PROFIT SHARING PLAN

Name: M & G INDUSTRIES, INC. - M & G INDUSTRIES, INC. PROFIT SHARING PLAN (2020) Form 5500
Creator: M & G INDUSTRIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, M & G INDUSTRIES, INC. PROFIT SHARING PLAN, M & G INDUSTRIES, INC.

M & G INDUSTRIES, INC.EIN 05-0380090Plan #003PY 2020

85 BROADCOMMON ROAD - BRISTOL, RI 028092701401-253-0096mgwirerope.comLinkedIn1-10 employees

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2M

+13.8% from 2019

Total participants

+3.6% from 2019

Average account balance

$67,644

+9.9% from 2019

Annual return

9.94%

-5.62 pp from 2019

Benchmarks

See 22,194 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort22,194 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.08M

Not enough data

1 years with asset history on file

Average account balance

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

$106K

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.

126.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$146K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+10.40%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3767

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 codes2E2J3D

Plan features

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

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

$61K

$2543 / participant

Other / not subdivided$61K100.0%

% of EOY assets

3.111%

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

$67,644

$162,821-58.5%

$133,978-49.5%

$158,982-57.5%

Participation rate

100.0%

83.2%+16.8pp

79.8%+20.2pp

82.0%+18.0pp

Annual return

9.94%

41.95%-32.0pp

45.10%-35.2pp

302.99%-293.0pp

Employer contribution / active EE

$2,395

$4,976-51.9%

$3,919-38.9%

$4,763-49.7%

Participant deferral / active EE

$2,928

$5,910-50.5%

$5,047-42.0%

$5,983-51.1%

Admin fee / account holder

$2,105

$11,742-82.1%

$8,930-76.4%

$11,252-81.3%

M & G INDUSTRIES, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

M & G INDUSTRIES, 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