Retirement plan

MARIC MECHANICAL, INC. 401 (K) PLAN

Name: MARIC MECHANICAL, INC. - MARIC MECHANICAL, INC. 401 (K) PLAN (2023) Form 5500
Creator: MARIC MECHANICAL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MARIC MECHANICAL, INC. 401 (K) PLAN, MARIC MECHANICAL, INC.

MARIC MECHANICAL, INC.EIN 11-2626018Plan #003PY 2023

19-53 46TH STREET - ASTORIA, NY 11105718-721-4690maricmechanical.comLinkedIn11-50 employeesmachinery

Other plans on this EIN

1 filing

#001Retirement-$8.6M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$8.2M

+17.4% from 2022

Total participants

+22.2% from 2022

Average account balance

$185,639

+12.1% from 2022

Annual return

16.66%

+34.55 pp from 2022

Benchmarks

See 18,032 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,032 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.48M

Not enough data

1 years with asset history on file

Average account balance

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

$211K

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.

90.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$404K

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

+19.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12839

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 codes2E2F2G2J3D3H

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.
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

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

$265K

$6794 / participant

Other / not subdivided$265K100.0%

% of EOY assets

3.244%

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

$185,639

$73,988+150.9%

$96,538+92.3%

$75,177+146.9%

Participation rate

71.8%

66.4%+5.4pp

74.3%-2.6pp

67.2%+4.6pp

Annual return

16.66%

26.73%-10.1pp

35.74%-19.1pp

160.75%-144.1pp

Employer contribution / active EE

$761

$2,930-74.0%

$3,740-79.7%

$2,671-71.5%

Participant deferral / active EE

$7,077

$3,660+93.3%

$4,880+45.0%

$4,126+71.5%

Admin fee / account holder

$6,022

$5,220+15.4%

$6,737-10.6%

$5,651+6.6%

MARIC MECHANICAL, INC. 401 (K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MARIC MECHANICAL, INC. 401 (K) 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