Retirement plan

MILWAUKEE ELECTRONICS EMPLOYEE SAVINGS AND RETIREMENT PLAN

Name: MEC INTERNATIONAL CORPORATION - MILWAUKEE ELECTRONICS EMPLOYEE SAVINGS AND RETIREMENT PLAN (2019) Form 5500
Creator: MEC INTERNATIONAL CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MILWAUKEE ELECTRONICS EMPLOYEE SAVINGS AND RETIREMENT PLAN, MEC INTERNATIONAL CORPORATION

MEC INTERNATIONAL CORPORATIONEIN 20-8277165Plan #001PY 2019

5855 NORTH GLEN PARK ROAD - MILWAUKEE, WI 53209414-228-5000

Prospect flagsLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$16.6M

+29.5% from 2018

Total participants

372

+0.5% from 2018

Average account balance

$62,746

+17.8% from 2018

Annual return

22.23%

+28.42 pp from 2018

Benchmarks

See 2,415 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,415 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.33M

Not enough data

1 years with asset history on file

Average account balance

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

$69K

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.

281

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.

66.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.63M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+8.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$214

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
RAYMOND JAMES FINANCIAL SERVICES2 years Filed as: RAYMOND JAMES FIN SERV ADVISORS Service code 26 · EIN 59-2937883 TO BE POSED BY IMPAC - TOWER 3 FL · SAINT PETERSBURG, FL 33716	Advisory (Participants)	$26,496
NATIONWIDE5+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$22,704
WIPFLI LLP5+ years Service code 15 · EIN 39-0758449 ATTN MARCI BOYARSKI · EAU CLAIRE, WI 547020690	Recordkeeping	$19,291

Plan features & details

Pension benefit codes2E2G2J2K2F3D3H2T

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$47K

$141 / participant

Contract admin$47K100.0%

% of EOY assets

0.281%

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: VRAKAS S.C.
Auditor EIN: 391453055
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$62,746

$73,404-14.5%

$87,104-28.0%

$67,579-7.2%

Participation rate

67.4%

80.9%-13.5pp

76.9%-9.5pp

71.3%-3.9pp

Annual return

22.23%

48.29%-26.1pp

28.19%-6.0pp

378.56%-356.3pp

Employer contribution / active EE

$657

$2,014-67.4%

$2,521-73.9%

$2,148-69.4%

Participant deferral / active EE

$3,718

$3,913-5.0%

$4,048-8.2%

$3,539+5.1%

Admin fee / account holder

$177

$142+24.7%

$7,491-97.6%

$142+24.1%

Provider

Service type

Compensation

RAYMOND JAMES FINANCIAL SERVICES2 years

Filed as: RAYMOND JAMES FIN SERV ADVISORS

Service code 26 · EIN 59-2937883

TO BE POSED BY IMPAC - TOWER 3 FL · SAINT PETERSBURG, FL 33716

Advisory (Participants)

$26,496

NATIONWIDE5+ years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$22,704

WIPFLI LLP5+ years

Service code 15 · EIN 39-0758449

ATTN MARCI BOYARSKI · EAU CLAIRE, WI 547020690

Recordkeeping

$19,291

MILWAUKEE ELECTRONICS EMPLOYEE SAVINGS AND RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MILWAUKEE ELECTRONICS EMPLOYEE SAVINGS AND RETIREMENT 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