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 (2022) 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 2022

300 KIMBALL DR - PARSIPPANY, NJ 070543818586-795-2000LinkedIn10001+ employeeselectrical/electronic manufacturing

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$11.2M

+1.0% from 2021

Total participants

268

+39.6% from 2021

Average account balance

$58,131

-21.0% from 2021

Annual return

-12.36%

-30.30 pp from 2021

Benchmarks

See 5,988 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,988 peers

Snapshot2022

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 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY3 years Service code 13 · EIN 42-0127290	Contract Administrator	$41,868
DOEREN MAYHEW1 year Filed as: DOEREN MAYHEW & CO., P.C Service code 10 · EIN 38-3182105	Accounting	$19,500
DOEREN MAYHEW1 year Filed as: DOEREN MAYHEW & CO. PC Service code 10 · EIN 36-3182105	Accounting	$9,500
RBC WEALTH MANAGEMENT2 years Service code 16 · EIN 41-1416630	Consulting	$5,100

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.

Opportunity flags

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$58K

$255 / participant

Contract admin$42K72.4%
Other / not subdivided$16K27.6%

% of EOY assets

0.516%

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: DOEREN MAYHEW
Auditor EIN: 382492570
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$58,131

$84,482-31.2%

$125,363-53.6%

$66,930-13.1%

Participation rate

67.0%

76.4%-9.4pp

82.4%-15.4pp

69.8%-2.9pp

Annual return

-12.36%

-8.49%-3.9pp

572.15%-584.5pp

1.57%-13.9pp

Employer contribution / active EE

$3,040

$3,553-14.4%

$4,815-36.9%

$2,545+19.5%

Participant deferral / active EE

$6,845

$6,782+0.9%

$7,447-8.1%

$4,238+61.5%

Admin fee / account holder

$300

$685-56.2%

$10,005-97.0%

$593-49.5%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3 years

Service code 13 · EIN 42-0127290

Contract Administrator

$41,868

DOEREN MAYHEW1 year

Filed as: DOEREN MAYHEW & CO., P.C

Service code 10 · EIN 38-3182105

Accounting

$19,500

DOEREN MAYHEW1 year

Filed as: DOEREN MAYHEW & CO. PC

Service code 10 · EIN 36-3182105

Accounting

$9,500

RBC WEALTH MANAGEMENT2 years

Service code 16 · EIN 41-1416630

Consulting

$5,100

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