Retirement plan

MLMIC DEFERRED PROFIT SHARING AND 401(K) PLAN

Name: MLMIC SERVICES, INC. - MLMIC DEFERRED PROFIT SHARING AND 401(K) PLAN (2024) Form 5500
Creator: MLMIC SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MLMIC DEFERRED PROFIT SHARING AND 401(K) PLAN, MLMIC SERVICES, INC.

MLMIC SERVICES, INC.EIN 13-5471800Plan #001PY 2024

1031 WATERVLIET SHAKER ROAD, SUITE 100 - ALBANY, NY 12205518-786-2700LinkedIn1-10 employeesinsurance

Prospect flagsHigh assets / participant

How to read this page

Total assets (EOY)

$186.9M

+7.3% from 2023

Total participants

349

-2.5% from 2023

Average account balance

$540,035

+10.4% from 2023

Annual return

14.55%

-1.30 pp from 2023

Benchmarks

See 2,180 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,180 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$186.85M

Not enough data

1 years with asset history on file

Average account balance

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

$540K

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.

346

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.

98.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.18M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$26K

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

+14.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$267

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
STRATEGIC ADVISORS, INC.2 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$71,428
FIDELITY INVESTMENTS INSTITUTIONAL2 years Service code 37 · EIN 04-2647786	Loan Processing	$21,055
FIDELITY INVESTMENTS INSTITUTIONAL1 year Filed as: FIDELITY HEALTH INSURANCE SERVICES Service code 13 · EIN 47-2554588	Contract Administrator	$0

Plan features & details

Pension benefit codes2G2E2J2K2S2T2F3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

1 tripped

InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$92K

$387 / participant

Recordkeeping$20K21.1%
Investment mgmt$71K77.2%
Contract admin$2K1.6%

% of EOY assets

0.049%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: PKF O'CONNOR DAVIES, LLP
Auditor EIN: 271728945
Audit fees: $0
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$540,035

$122,239+341.8%

$184,203+193.2%

$74,495+624.9%

Participation rate

98.7%

85.5%+13.3pp

86.8%+11.9pp

67.2%+31.5pp

Annual return

14.55%

19.95%-5.4pp

28.81%-14.3pp

1364.94%-1350.4pp

Employer contribution / active EE

$14,730

$4,537+224.6%

$6,427+129.2%

$2,623+461.6%

Participant deferral / active EE

$11,142

$7,139+56.1%

$9,131+22.0%

$4,346+156.4%

Admin fee / account holder

$267

$1,260-78.8%

$13,901-98.1%

$1,942-86.2%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.2 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$71,428

FIDELITY INVESTMENTS INSTITUTIONAL2 years

Service code 37 · EIN 04-2647786

Loan Processing

$21,055

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Filed as: FIDELITY HEALTH INSURANCE SERVICES

Service code 13 · EIN 47-2554588

Contract Administrator

MLMIC DEFERRED PROFIT SHARING AND 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MLMIC DEFERRED PROFIT SHARING AND 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