Retirement plan

MIDWEST CONTRACT CARPET, INC. 401(K) PLAN

Name: MIDWEST CARPET AND FLOORING, INC. - MIDWEST CONTRACT CARPET, INC. 401(K) PLAN (2024) Form 5500
Creator: MIDWEST CARPET AND FLOORING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDWEST CONTRACT CARPET, INC. 401(K) PLAN, MIDWEST CARPET AND FLOORING, INC.

MIDWEST CARPET AND FLOORING, INC.EIN 20-3271614Plan #001PY 2024

1201 W. 37TH STREET - CHICAGO, IL 60609773-523-2300midwestcarpetandflooring.comLinkedIn1-10 employees

Prospect flagsHigh feesLow participant contributionLow fidelity bond

How to read this page

Total assets (EOY)

$1.5M

+28.1% from 2023

Total participants

+3.8% from 2023

Average account balance

$58,465

+28.1% from 2023

Annual return

15.75%

-2.01 pp from 2023

Benchmarks

See 23,862 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,862 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.52M

Not enough data

1 years with asset history on file

Average account balance

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

$58K

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.

185.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$192K

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

+15.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1789

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 codes2E2F2G2J3D

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.
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$47K

$3323 / participant

Other / not subdivided$47K100.0%

% of EOY assets

3.061%

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

$58,465

$166,242-64.8%

$165,071-64.6%

$145,884-59.9%

Participation rate

92.9%

82.0%+10.8pp

78.6%+14.2pp

80.3%+12.6pp

Annual return

15.75%

100.44%-84.7pp

70.17%-54.4pp

551.85%-536.1pp

Employer contribution / active EE

$12,095

$5,283+128.9%

$4,347+178.2%

$4,662+159.4%

Participant deferral / active EE

$1,653

$6,964-76.3%

$6,035-72.6%

$6,690-75.3%

Admin fee / account holder

$1,789

$16,658-89.3%

$12,695-85.9%

$13,392-86.6%

MIDWEST CONTRACT CARPET, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDWEST CONTRACT CARPET, INC. 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