Retirement plan

MERJENT INC. 401(K) PROFIT SHARING PLAN AND TRUST

Name: MERJENT INC. - MERJENT INC. 401(K) PROFIT SHARING PLAN AND TRUST (2023) Form 5500
Creator: MERJENT INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MERJENT INC. 401(K) PROFIT SHARING PLAN AND TRUST, MERJENT INC.

MERJENT INC.EIN 20-1467428Plan #001PY 2023

1 MAIN STREET SE, SUITE 310 - MINNEAPOLIS, MN 55414612-354-4286merjent.comLinkedIn51-200 employeesenvironmental services

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$22.2M

+35.7% from 2022

Total participants

302

+7.9% from 2022

Average account balance

$95,651

+22.2% from 2022

Annual return

24.81%

+41.94 pp from 2022

Benchmarks

See 3,230 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,230 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$25.85M

Not enough data

1 years with asset history on file

Average account balance

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

$97K

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.

266

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.

77.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.15M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+15.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$319

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 3 by compensation

Provider	Service type	Compensation
RBC WEALTH MANAGEMENT6 years Service code 26 · EIN 41-1416330	Advisory (Participants)	$40,579
NWPS1 year Service code 13 · EIN 91-2090931	Contract Administrator	$20,042
MATRIX TRUST COMPANY6 years Service code 26 · EIN 75-3182674	Advisory (Participants)	$6,281

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$67K

$267 / participant

Recordkeeping$20K30.0%
Trustee / custodial$6K9.4%
Investment mgmt$41K60.7%

% of EOY assets

0.301%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CUMMINGS, KEEGAN & CO., PLLP
Auditor EIN: 411227298
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$95,651

$95,438+0.2%

$135,982-29.7%

$74,473+28.4%

Participation rate

72.1%

78.2%-6.1pp

81.9%-9.8pp

70.7%+1.4pp

Annual return

24.81%

32.61%-7.8pp

68.32%-43.5pp

34.36%-9.5pp

Employer contribution / active EE

$3,210

$3,878-17.2%

$4,859-33.9%

$2,638+21.7%

Participant deferral / active EE

$7,687

$7,790-1.3%

$7,760-0.9%

$4,530+69.7%

Admin fee / account holder

$288

$259+11.4%

$10,767-97.3%

$347-16.9%

Provider

Service type

Compensation

RBC WEALTH MANAGEMENT6 years

Service code 26 · EIN 41-1416330

Advisory (Participants)

$40,579

NWPS1 year

Service code 13 · EIN 91-2090931

Contract Administrator

$20,042

MATRIX TRUST COMPANY6 years

Service code 26 · EIN 75-3182674

Advisory (Participants)

$6,281

MERJENT INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MERJENT INC. 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