Retirement plan

MIDDLE DEPARTMENT INSPECTION AGENCY, INC. PENSION THRIFT PLAN FOR UNION EMPLOYEES

Name: MIDDLE DEPARTMENT INSPECTION AGENCY, INC. - MIDDLE DEPARTMENT INSPECTION AGENCY, INC. PENSION THRIFT PLAN FOR UNION EMPLOYEES (2023) Form 5500
Creator: MIDDLE DEPARTMENT INSPECTION AGENCY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDDLE DEPARTMENT INSPECTION AGENCY, INC. PENSION THRIFT PLAN FOR UNION EMPLOYEES, MIDDLE DEPARTMENT INSPECTION AGENCY, INC.

MIDDLE DEPARTMENT INSPECTION AGENCY, INC.EIN 22-2036075Plan #002PY 2023

1337 WEST CHESTER PIKE - WEST CHESTER, PA 19380610-696-3900LinkedIn11-50 employees

Other plans on this EIN

1 filing

#003Retirement-$5.3M assets

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$4.5M

-10.1% from 2022

Total participants

-9.4% from 2022

Average account balance

$78,337

-14.7% from 2022

Annual return

-6.23%

-23.97 pp from 2022

Benchmarks

See 28,703 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,703 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.74M

Not enough data

1 years with asset history on file

Average account balance

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

$82K

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.

156.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$153K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+5.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$15177

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$364K

$9585 / participant

Other / not subdivided$364K100.0%

% of EOY assets

8.017%

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

$78,337

$93,617-16.3%

$135,982-42.4%

$75,177+4.2%

Participation rate

100.0%

75.2%+24.8pp

81.9%+18.1pp

67.2%+32.8pp

Annual return

-6.23%

30.89%-37.1pp

68.32%-74.6pp

160.75%-167.0pp

Employer contribution / active EE

$1,052

$3,538-70.3%

$4,859-78.3%

$2,671-60.6%

Participant deferral / active EE

$3,019

$6,406-52.9%

$7,760-61.1%

$4,126-26.8%

Admin fee / account holder

$6,280

$6,980-10.0%

$10,767-41.7%

$5,651+11.1%

MIDDLE DEPARTMENT INSPECTION AGENCY, INC. PENSION THRIFT PLAN FOR UNION EMPLOYEES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDDLE DEPARTMENT INSPECTION AGENCY, INC. PENSION THRIFT PLAN FOR UNION EMPLOYEES

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