Retirement plan

MICHELL ENTERPRISES, LLC 401(K) AND PROFIT SHARING PLAN

Name: MICHELL ENTERPRISES, LLC - MICHELL ENTERPRISES, LLC 401(K) AND PROFIT SHARING PLAN (2022) Form 5500
Creator: MICHELL ENTERPRISES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICHELL ENTERPRISES, LLC 401(K) AND PROFIT SHARING PLAN, MICHELL ENTERPRISES, LLC

MICHELL ENTERPRISES, LLCEIN 20-0354910Plan #001PY 2022

5 NATIONAL DRIVE, PO BOX 844 - WINDSOR LOCKS, CT 06096860-654-1924

Prospect flagsLow participationLow assets / participant

How to read this page

Total assets (EOY)

$399K

No prior year

Total participants

780

No prior year

Average account balance

$5,049

No prior year

Annual return

0.00%

No prior year

Benchmarks

See 788 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants250-999

Cohort788 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.86M

Not enough data

1 years with asset history on file

Average account balance

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

$18K

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.

102

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.

11.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$723K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$820

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

+14.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2045

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

Top 3 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH1+ years Filed as: MERRILL LYNCH LIFE AGENCY,INC. Service code 27 · EIN 13-2808480	Advisory (Plan)	$1,452
TRANSAMERICA RETIREMENT SOLUTIONS1+ years Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399	Recordkeeping	$543
COMPASS RETIREMENT LLC1+ years Filed as: COMPASS RETIREMENT CONSULTING GRP, Service code 15 · EIN 20-4795685	Recordkeeping	$300

Plan features & details

Pension benefit codes2A2E2F2G2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$2K

$3 / participant

Investment mgmt$2K100.0%

% of EOY assets

0.575%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: R. A. HALL & CO., LLC
Auditor EIN: 042578039
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$5,049

$30,107-83.2%

$61,452-91.8%

$64,819-92.2%

Participation rate

9.3%

36.4%-27.1pp

52.6%-43.3pp

71.5%-62.2pp

Annual return

0.00%

-13.99%+14.0pp

338.96%-339.0pp

32.84%-32.8pp

Employer contribution / active EE

$162

$537-69.8%

$1,160-86.0%

$2,507-93.5%

Participant deferral / active EE

$364

$1,126-67.7%

$2,125-82.9%

$4,311-91.6%

Admin fee / account holder

$29

$148-80.4%

$2,131-98.6%

$188-84.5%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH1+ years

Filed as: MERRILL LYNCH LIFE AGENCY,INC.

Service code 27 · EIN 13-2808480

Advisory (Plan)

$1,452

TRANSAMERICA RETIREMENT SOLUTIONS1+ years

Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN

Service code 15 · EIN 36-6071399

Recordkeeping

$543

COMPASS RETIREMENT LLC1+ years

Filed as: COMPASS RETIREMENT CONSULTING GRP,

Service code 15 · EIN 20-4795685

Recordkeeping

$300

MICHELL ENTERPRISES, LLC 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICHELL ENTERPRISES, LLC 401(K) AND 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