Retirement plan

MIDEA AMERICA CORPORATION 401(K) PROFIT SHARING PLAN AND TRUST

Name: MIDEA AMERICA CORPORATION - MIDEA AMERICA CORPORATION 401(K) PROFIT SHARING PLAN AND TRUST (2020) Form 5500
Creator: MIDEA AMERICA CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDEA AMERICA CORPORATION 401(K) PROFIT SHARING PLAN AND TRUST, MIDEA AMERICA CORPORATION

MIDEA AMERICA CORPORATIONEIN 20-0487988Plan #001PY 2020

5 SYLVAN WAY - PARSIPPANY, NJ 070543818586-795-2000LinkedIn10001+ employeeselectrical/electronic manufacturing

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$7.9M

+46.7% from 2019

Total participants

150

-5.1% from 2019

Average account balance

$62,932

+39.7% from 2019

Annual return

29.39%

+3.07 pp from 2019

Benchmarks

See 5,591 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,591 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$21.10M

Not enough data

1 years with asset history on file

Average account balance

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

$72K

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.

295

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.

68.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.59M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+23.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$191

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$23,528

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

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

$39K

$307 / participant

Contract admin$39K100.0%

% of EOY assets

0.488%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: MOORE DOEREN MAYHEW
Auditor EIN: 383182105
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$62,932

$99,957-37.0%

$149,730-58.0%

$73,493-14.4%

Participation rate

81.0%

75.7%+5.3pp

82.5%-1.5pp

70.7%+10.3pp

Annual return

29.39%

53.87%-24.5pp

276.70%-247.3pp

28.51%+0.9pp

Employer contribution / active EE

$3,593

$3,191+12.6%

$4,645-22.7%

$2,270+58.3%

Participant deferral / active EE

$7,996

$6,073+31.7%

$6,843+16.9%

$3,740+113.8%

Admin fee / account holder

$307

$551-44.2%

$9,310-96.7%

$513-40.2%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$23,528

MIDEA AMERICA CORPORATION 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDEA AMERICA CORPORATION 401(K) PROFIT SHARING PLAN AND TRUST

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