Retirement plan

MINEROFF ELECTRONICS 401(K) PROFIT SHARING PLAN

Name: MINEROFF ELECTRONICS, INC. - MINEROFF ELECTRONICS 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: MINEROFF ELECTRONICS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MINEROFF ELECTRONICS 401(K) PROFIT SHARING PLAN, MINEROFF ELECTRONICS, INC.

MINEROFF ELECTRONICS, INC.EIN 11-2224147Plan #002PY 2022

574 MEACHAM AVENUE - ELMONT, NY 11003516-775-1370LinkedIn1-10 employeescomputer software

Prospect flagsHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$2M

-17.6% from 2021

Total participants

+75.0% from 2021

Average account balance

$283,332

-52.9% from 2021

Annual return

-19.12%

-35.96 pp from 2021

Benchmarks

See 23,461 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,461 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.54M

Not enough data

1 years with asset history on file

Average account balance

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

$257K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$50K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+22.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$255847

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 codes2J2T2F2E2G3D

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

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$350

$88 / participant

Other / not subdivided$350100.0%

% of EOY assets

0.018%

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

$283,332

$142,409+99.0%

$119,634+136.8%

$134,545+110.6%

Participation rate

100.0%

82.8%+17.2pp

79.3%+20.7pp

81.2%+18.8pp

Annual return

-19.12%

-12.46%-6.7pp

-14.98%-4.1pp

418.37%-437.5pp

Employer contribution / active EE

$5,320

$5,224+1.8%

$4,232+25.7%

$4,742+12.2%

Participant deferral / active EE

$3,981

$6,468-38.4%

$5,601-28.9%

$6,401-37.8%

Admin fee / account holder

$50

$13,594-99.6%

$10,329-99.5%

$11,431-99.6%

MINEROFF ELECTRONICS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MINEROFF ELECTRONICS 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