Retirement plan

MITTS & MERRILL 401(K) PLAN

Name: MITTS & MERRILL, LP - MITTS & MERRILL 401(K) PLAN (2024) Form 5500
Creator: MITTS & MERRILL, LP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MITTS & MERRILL 401(K) PLAN, MITTS & MERRILL, LP

MITTS & MERRILL, LPEIN 16-1410234Plan #001PY 2024

28623 LAKE INDUSTRIAL BLVD. - TAVARES, FL 32778352-343-7000mittsandmerrill.comLinkedIn1-10 employeesmachinery

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$214K

+17.4% from 2023

Total participants

+20.0% from 2023

Average account balance

$35,701

-2.1% from 2023

Annual return

12.71%

-3.97 pp from 2023

Benchmarks

See 22,981 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,981 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$214K

Not enough data

1 years with asset history on file

Average account balance

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

$36K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$20K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2333

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 codes2E3D2G2J2F2T3H

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

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

$14K

$2333 / participant

Other / not subdivided$14K100.0%

% of EOY assets

6.533%

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

$35,701

$117,846-69.7%

$102,434-65.1%

$145,884-75.5%

Participation rate

100.0%

78.6%+21.4pp

76.5%+23.5pp

80.3%+19.7pp

Annual return

12.71%

31.90%-19.2pp

29.46%-16.7pp

551.85%-539.1pp

Employer contribution / active EE

$1,392

$3,615-61.5%

$3,023-54.0%

$4,662-70.2%

Participant deferral / active EE

$2,025

$5,733-64.7%

$5,055-59.9%

$6,690-69.7%

Admin fee / account holder

$2,333

$13,356-82.5%

$9,462-75.3%

$13,392-82.6%

MITTS & MERRILL 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MITTS & MERRILL 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