Retirement plan

MDI CONSULTANTS, INC. PROFIT SHARING PLAN

Name: MDI CONSULTANTS, INC. - MDI CONSULTANTS, INC. PROFIT SHARING PLAN (2023) Form 5500
Creator: MDI CONSULTANTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MDI CONSULTANTS, INC. PROFIT SHARING PLAN, MDI CONSULTANTS, INC.

MDI CONSULTANTS, INC.EIN 11-3226956Plan #001PY 2023

55 NORTHERN BLVD., SUITE 200 - GREAT NECK, NY 11021516-482-9001mdiconsultants.comLinkedIn11-50 employeesmedical devices

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.3M

+11.2% from 2022

Total participants

-13.3% from 2022

Average account balance

$213,587

+31.4% from 2022

Annual return

8.28%

+19.80 pp from 2022

Benchmarks

See 139,849 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,849 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.76M

Not enough data

1 years with asset history on file

Average account balance

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

$251K

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.

122.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$96K

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

+13.41%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4207

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 codes2E2F2J2R3D

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).
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$63K

$5290 / participant

Other / not subdivided$63K100.0%

% of EOY assets

2.702%

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

$213,587

$148,582+43.7%

$135,942+57.1%

$139,456+53.2%

Participation rate

83.3%

83.9%-0.5pp

81.9%+1.4pp

80.3%+3.0pp

Annual return

8.28%

79.26%-71.0pp

68.28%-60.0pp

373.45%-365.2pp

Employer contribution / active EE

$2,540

$5,245-51.6%

$4,858-47.7%

$4,753-46.6%

Participant deferral / active EE

$6,515

$8,101-19.6%

$7,759-16.0%

$6,711-2.9%

Admin fee / account holder

$5,771

$12,402-53.5%

$10,764-46.4%

$11,407-49.4%

MDI CONSULTANTS, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MDI CONSULTANTS, 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