Retirement plan

MEDCO ELECTRICAL CONTRACTING, INC. 401K PROFIT SHARING PLAN

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

MEDCO ELECTRICAL CONTRACTING, INC.EIN 11-2351511Plan #002PY 2020

3309 AVENUE N - BROOKLYN, NY 11234718-253-1335

Other plans on this EIN

1 filing

#001Retirement-$1.4M assets

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$822K

+34.1% from 2019

Total participants

+14.3% from 2019

Average account balance

$102,735

+17.3% from 2019

Annual return

15.32%

-3.53 pp from 2019

Benchmarks

See 42,032 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort42,032 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.48M

Not enough data

1 years with asset history on file

Average account balance

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

$164K

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.

180.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$121K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$24K

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

+10.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$348

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 codes2E2G2J3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

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

$640

$91 / participant

Other / not subdivided$640100.0%

% of EOY assets

0.078%

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

$102,735

$115,814-11.3%

$101,275+1.4%

$158,982-35.4%

Participation rate

100.0%

79.4%+20.6pp

75.8%+24.2pp

82.0%+18.0pp

Annual return

15.32%

56.16%-40.8pp

46.48%-31.2pp

302.99%-287.7pp

Employer contribution / active EE

$12,436

$4,176+197.8%

$3,660+239.8%

$4,763+161.1%

Participant deferral / active EE

$3,986

$4,958-19.6%

$4,371-8.8%

$5,983-33.4%

Admin fee / account holder

$80

$7,249-98.9%

$5,948-98.7%

$11,252-99.3%

MEDCO ELECTRICAL CONTRACTING, INC. 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEDCO ELECTRICAL CONTRACTING, INC. 401K 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