Retirement plan

MIKE'S COMMERCIAL REFRIGERATION, INC. 401(K) PROFIT SHARING PLAN

Name: MIKE'S COMMERCIAL REFRIGERATION, INC. - MIKE'S COMMERCIAL REFRIGERATION, INC. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: MIKE'S COMMERCIAL REFRIGERATION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIKE'S COMMERCIAL REFRIGERATION, INC. 401(K) PROFIT SHARING PLAN, MIKE'S COMMERCIAL REFRIGERATION, INC.

MIKE'S COMMERCIAL REFRIGERATION, INC.EIN 16-1243301Plan #001PY 2022

6577 EAST TAFT ROAD - EAST SYRACUSE, NY 13057315-458-1126LinkedIn11-50 employees

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$680K

-20.5% from 2021

Total participants

+12.5% from 2021

Average account balance

$97,132

-9.2% from 2021

Annual return

-8.07%

-20.06 pp from 2021

Benchmarks

See 39,277 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort39,277 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.22M

Not enough data

1 years with asset history on file

Average account balance

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

$102K

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.

171.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$183K

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

+12.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2785

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 codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$187K

$46746 / participant

Other / not subdivided$187K100.0%

% of EOY assets

27.501%

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

$97,132

$92,766+4.7%

$82,763+17.4%

$134,545-27.8%

Participation rate

50.0%

75.2%-25.2pp

72.6%-22.6pp

81.2%-31.2pp

Annual return

-8.07%

946.97%-955.0pp

702.45%-710.5pp

418.37%-426.4pp

Employer contribution / active EE

$5,756

$3,273+75.9%

$3,008+91.3%

$4,742+21.4%

Participant deferral / active EE

$14,313

$4,802+198.0%

$4,395+225.6%

$6,401+123.6%

Admin fee / account holder

$26,712

$5,978+346.9%

$5,325+401.6%

$11,431+133.7%

MIKE'S COMMERCIAL REFRIGERATION, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIKE'S COMMERCIAL REFRIGERATION, INC. 401(K) 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