Retirement plan

M & L POWER SYSTEMS MAINTENANCE, INC. 401(K) PROFIT SHARING PLAN

Name: M & L POWER SYSTEMS MAINTENANCE, INC. - M & L POWER SYSTEMS MAINTENANCE, INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: M & L POWER SYSTEMS MAINTENANCE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, M & L POWER SYSTEMS MAINTENANCE, INC. 401(K) PROFIT SHARING PLAN, M & L POWER SYSTEMS MAINTENANCE, INC.

M & L POWER SYSTEMS MAINTENANCE, INC.EIN 22-2402360Plan #002PY 2023

109 WHITE OAK LANE, SUITE 82 - OLD BRIDGE, NJ 08857732-679-1800

Prospect flagsHigh feesHigh assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$3.9M

-27.5% from 2022

Total participants

-7.7% from 2022

Average account balance

$386,688

-5.8% from 2022

Annual return

12.78%

+34.36 pp from 2022

Benchmarks

See 41,776 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,776 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.25M

Not enough data

1 years with asset history on file

Average account balance

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

$354K

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.

85.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$168K

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

+10.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$13989

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 codes2F2G2J2E2T3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

OpportunityLow employer contribution
Employer 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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$2.2M

$185139 / participant

Other / not subdivided$2M100.0%

% of EOY assets

57.454%

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

$386,688

$96,691+299.9%

$86,656+346.2%

$139,487+177.2%

Participation rate

83.3%

74.4%+8.9pp

71.7%+11.6pp

80.3%+3.0pp

Annual return

12.78%

106.87%-94.1pp

593.09%-580.3pp

373.84%-361.1pp

Employer contribution / active EE

$3,267-100.0%

$3,025-100.0%

$4,755-100.0%

Participant deferral / active EE

$5,823

$4,838+20.4%

$4,439+31.2%

$6,713-13.2%

Admin fee / account holder

$222,167

$6,414+3363.6%

$5,619+3854.1%

$11,407+1847.6%

M & L POWER SYSTEMS MAINTENANCE, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

M & L POWER SYSTEMS MAINTENANCE, INC. 401(K) PROFIT SHARING 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