Retirement plan

MGC GROUP 401(K) PLAN

Name: MITSUBISHI GAS CHEMICAL AMERICA, INC. - MGC GROUP 401(K) PLAN (2020) Form 5500
Creator: MITSUBISHI GAS CHEMICAL AMERICA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MGC GROUP 401(K) PLAN, MITSUBISHI GAS CHEMICAL AMERICA, INC.

MITSUBISHI GAS CHEMICAL AMERICA, INC.EIN 13-3230137Plan #001PY 2020

655 THIRD AVE 19 FLOOR - NEW YORK, NY 10017212-687-9030mgc-a.comLinkedIn11-50 employeeschemicals

Prospect flagsLow returnsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$11.9M

+5.5% from 2019

Total participants

283

+11.9% from 2019

Average account balance

$50,015

-6.5% from 2019

Annual return

12.14%

-10.59 pp from 2019

Benchmarks

See 172 peers

Peer group

Industry22 - Utilities

Plan typeDefined contribution

Participants100-249

Cohort172 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.19M

Not enough data

1 years with asset history on file

Average account balance

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

$52K

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.

255

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.

64.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.74M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+13.00%

Not enough data

1 years with return on file

Admin fee / account holder

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

$511

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

1 years with F_SCH_H allocation on file

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Service providers

Top 8 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY2 years Filed as: MORGAN STANLEY INS SVCS INC Service code 27 · EIN 51-0116113	Advisory (Plan)	$17,720
THE BENEFIT PRACTICE3 years Service code 15 · EIN 13-4144565	Recordkeeping	$15,520
MORGAN STANLEY SMITH BARNEY3 years Service code 27 1 NEW YORK PLZ · NEW YORK, NY 10004	Advisory (Plan)	$11,587
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ADVISED ASSETS GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$5,548
BORIS BENIC AND ASSOCIATES LLP1 year Service code 10 500 OLD COUNTRY RD · GARDEN CITY, NY 11530	Accounting	$2,771
MASSACHUSETTS MUTUAL LIFE INS. CO.3 years Filed as: MASS MUTUAL Service code 15 · EIN 04-1590850	Recordkeeping	$1,100
ENVESTNET RETIREMENT SOLUTIONS, LLC2 years Service code 27 · EIN 61-1732930	Advisory (Plan)	$0
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: FIRST GREAT-WEST LIFE & ANNUITY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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.
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

3 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$54K

$255 / participant

Other / not subdivided$54K100.0%

% of EOY assets

0.452%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BORIS BENIC AND ASSOCIATES LLP
Auditor EIN: 542190047
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$50,015

$118,971-58.0%

$112,977-55.7%

$73,493-31.9%

Participation rate

78.1%

83.3%-5.2pp

82.6%-4.5pp

70.7%+7.4pp

Annual return

12.14%

17.79%-5.7pp

24.24%-12.1pp

28.51%-16.4pp

Employer contribution / active EE

$2,109

$4,091-48.4%

$4,255-50.4%

$2,270-7.1%

Participant deferral / active EE

$3,879

$6,133-36.7%

$5,836-33.5%

$3,740+3.7%

Admin fee / account holder

$226

$573-60.5%

$6,294-96.4%

$513-55.9%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY2 years

Filed as: MORGAN STANLEY INS SVCS INC

Service code 27 · EIN 51-0116113

Advisory (Plan)

$17,720

THE BENEFIT PRACTICE3 years

Service code 15 · EIN 13-4144565

Recordkeeping

$15,520

MORGAN STANLEY SMITH BARNEY3 years

Service code 27

1 NEW YORK PLZ · NEW YORK, NY 10004

Advisory (Plan)

$11,587

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ADVISED ASSETS GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$5,548

BORIS BENIC AND ASSOCIATES LLP1 year

Service code 10

500 OLD COUNTRY RD · GARDEN CITY, NY 11530

Accounting

$2,771

MASSACHUSETTS MUTUAL LIFE INS. CO.3 years

Filed as: MASS MUTUAL

Service code 15 · EIN 04-1590850

Recordkeeping

$1,100

ENVESTNET RETIREMENT SOLUTIONS, LLC2 years

Service code 27 · EIN 61-1732930

Advisory (Plan)

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: FIRST GREAT-WEST LIFE & ANNUITY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

MGC GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MGC GROUP 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