Retirement plan

MGS, INC. 401(K) PLAN

Name: MGS, INC. - MGS, INC. 401(K) PLAN (2019) Form 5500
Creator: MGS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MGS, INC. 401(K) PLAN, MGS, INC.

MGS, INC.EIN 23-1605766Plan #002PY 2019

178 MUDDY CREEK CHURCH ROAD - DENVER, PA 175179328717-336-7528mgsincorporated.comLinkedIn51-200 employeesmachinery

Prospect flagsLow employer contribution

Top hat statement on fileNQDC

Filed March 10, 2015

Plan administrator

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178 Muddy Creek Church Rd

Denver State: PA Zip Code: 17517

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Plans declared (1)

MGS Inc Supplemental Executive Retirement Plan3 emp

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Total assets (EOY)

$4.4M

+27.3% from 2018

Total participants

152

+4.1% from 2018

Average account balance

$33,717

+26.3% from 2018

Annual return

23.47%

+30.12 pp from 2018

Benchmarks

See 4,277 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,277 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.25M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

160

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.

85.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$451K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+15.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$204

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
FULTON FINANCIAL ADVISORS4 years Service code 15 · EIN 23-1928421	Recordkeeping	$21,400
SIMON LEVER LLC2 years Filed as: SIMON LEVER Service code 10 · EIN 23-1692578	Accounting	$9,600

Plan features & details

Pension benefit codes2E2F2G2J3D2T

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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$31K

$243 / participant

Other / not subdivided$31K100.0%

% of EOY assets

0.709%

all-in expense ratio

Categories reported

0 / 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: SIMON LEVER
Auditor EIN: 231692578
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$33,717

$65,376-48.4%

$87,104-61.3%

$65,185-48.3%

Participation rate

82.8%

75.3%+7.5pp

76.9%+5.9pp

70.2%+12.6pp

Annual return

23.47%

31.27%-7.8pp

28.19%-4.7pp

29.38%-5.9pp

Employer contribution / active EE

$301

$1,822-83.5%

$2,521-88.1%

$2,177-86.2%

Participant deferral / active EE

$1,980

$3,388-41.6%

$4,048-51.1%

$3,514-43.7%

Admin fee / account holder

$239

$520-54.0%

$7,491-96.8%

$847-71.8%

Provider

Service type

Compensation

FULTON FINANCIAL ADVISORS4 years

Service code 15 · EIN 23-1928421

Recordkeeping

$21,400

SIMON LEVER LLC2 years

Filed as: SIMON LEVER

Service code 10 · EIN 23-1692578

Accounting

$9,600

MGS, INC. 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MGS, INC. 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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