Retirement plan

MEYER HANDELMAN COMPANY LLC 401(K) RETIREMENT PLAN

Name: MEYER HANDELMAN COMPANY LLC 401(K) RETIREMENT PLAN - MEYER HANDELMAN COMPANY LLC 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: MEYER HANDELMAN COMPANY LLC 401(K) RETIREMENT PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEYER HANDELMAN COMPANY LLC 401(K) RETIREMENT PLAN, MEYER HANDELMAN COMPANY LLC 401(K) RETIREMENT PLAN

MEYER HANDELMAN COMPANY LLC 401(K) RETIREMENT PLANEIN 13-5600575Plan #002PY 2023

800 WESTCHESTER AVENUE, SUITE S618 - RYE BROOK, NY 10573914-939-4060

Other plans on this EIN

1 filing

#001Retirement-$8.3M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$784K

+99.1% from 2022

Total participants

+12.5% from 2022

Average account balance

$55,984

+70.7% from 2022

Annual return

26.12%

+59.66 pp from 2022

Benchmarks

See 36,196 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,196 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.89M

Not enough data

1 years with asset history on file

Average account balance

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

$111K

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.

81.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$354K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+19.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1103

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 codes2E2F2G2J3D

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.

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

$36K

$2105 / participant

Other / not subdivided$36K100.0%

% of EOY assets

4.566%

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

$55,984

$185,830-69.9%

$170,004-67.1%

$139,427-59.8%

Participation rate

76.5%

87.8%-11.3pp

87.0%-10.5pp

80.3%-3.9pp

Annual return

26.12%

60.52%-34.4pp

53.39%-27.3pp

373.27%-347.2pp

Employer contribution / active EE

$5,266

$7,591-30.6%

$6,786-22.4%

$4,752+10.8%

Participant deferral / active EE

$13,494

$11,622+16.1%

$10,408+29.6%

$6,711+101.1%

Admin fee / account holder

$2,556

$15,381-83.4%

$12,816-80.1%

$11,404-77.6%

MEYER HANDELMAN COMPANY LLC 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEYER HANDELMAN COMPANY LLC 401(K) RETIREMENT 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