Retirement plan

MIDWEST PRO MANUFACTURING SAFE HARBOR 401(K) PLAN

Name: MIDWEST PRO MANUFACTURING, INC. - MIDWEST PRO MANUFACTURING SAFE HARBOR 401(K) PLAN (2020) Form 5500
Creator: MIDWEST PRO MANUFACTURING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDWEST PRO MANUFACTURING SAFE HARBOR 401(K) PLAN, MIDWEST PRO MANUFACTURING, INC.

MIDWEST PRO MANUFACTURING, INC.EIN 20-2139676Plan #001PY 2020

188 WESTVIEW DRIVE - ROCK VALLEY, IA 51247712-476-9279midwestpromfg.comLinkedIn11-50 employeesmachinery

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.6M

+30.2% from 2019

Total participants

-5.0% from 2019

Average account balance

$86,163

+30.2% from 2019

Annual return

20.70%

+0.33 pp from 2019

Benchmarks

See 21,456 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,456 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.94M

Not enough data

1 years with asset history on file

Average account balance

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

$140K

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

$185K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+13.12%

Not enough data

1 years with return on file

Admin fee / account holder

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

$14433

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 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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$13K

$707 / participant

Other / not subdivided$13K100.0%

% of EOY assets

0.778%

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

$86,163

$112,099-23.1%

$95,954-10.2%

$158,931-45.8%

Participation rate

100.0%

79.0%+21.0pp

77.1%+22.9pp

82.0%+18.0pp

Annual return

20.70%

171.12%-150.4pp

91.62%-70.9pp

302.86%-282.2pp

Employer contribution / active EE

$2,170

$3,198-32.1%

$2,541-14.6%

$4,761-54.4%

Participant deferral / active EE

$4,931

$4,784+3.1%

$4,167+18.3%

$5,982-17.6%

Admin fee / account holder

$670

$10,132-93.4%

$6,796-90.1%

$11,247-94.0%

MIDWEST PRO MANUFACTURING SAFE HARBOR 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDWEST PRO MANUFACTURING SAFE HARBOR 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