Retirement plan

MILHERST CONSTRUCTION, INC. PROFIT SHARING PLAN

Name: MILHERST CONSTRUCTION, INC. - MILHERST CONSTRUCTION, INC. PROFIT SHARING PLAN (2024) Form 5500
Creator: MILHERST CONSTRUCTION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MILHERST CONSTRUCTION, INC. PROFIT SHARING PLAN, MILHERST CONSTRUCTION, INC.

MILHERST CONSTRUCTION, INC.EIN 16-1081465Plan #002PY 2024

10025 COUNTY RD., P. O. BOX 430 - CLARENCE CENTER, NY 140320430716-688-9098LinkedIn11-50 employeesconstruction

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$4.2M

+14.1% from 2023

Total participants

-18.3% from 2023

Average account balance

$90,527

+41.4% from 2023

Annual return

14.11%

-3.81 pp from 2023

Benchmarks

See 18,562 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,562 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.16M

Not enough data

1 years with asset history on file

Average account balance

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

$91K

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.

115.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$244K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+14.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6102

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 codes2E2F2G2J2T3D3H

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$281K

$7017 / participant

Other / not subdivided$281K100.0%

% of EOY assets

6.740%

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

$90,527

$81,457+11.1%

$103,378-12.4%

$80,911+11.9%

Participation rate

92.5%

66.8%+25.7pp

74.5%+18.0pp

67.6%+24.9pp

Annual return

14.11%

25.58%-11.5pp

24.91%-10.8pp

35.63%-21.5pp

Employer contribution / active EE

$2,779

$3,107-10.6%

$3,870-28.2%

$2,756+0.9%

Participant deferral / active EE

$3,327

$3,871-14.1%

$5,058-34.2%

$4,297-22.6%

Admin fee / account holder

$6,102

$6,717-9.2%

$8,401-27.4%

$6,935-12.0%

MILHERST CONSTRUCTION, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MILHERST CONSTRUCTION, 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