Retirement plan

MCCRACKEN FINANCIAL SOLUTIONS 401(K) PLAN

Name: MCCRACKEN FINANCIAL SOLUTIONS - MCCRACKEN FINANCIAL SOLUTIONS 401(K) PLAN (2020) Form 5500
Creator: MCCRACKEN FINANCIAL SOLUTIONS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCCRACKEN FINANCIAL SOLUTIONS 401(K) PLAN, MCCRACKEN FINANCIAL SOLUTIONS

MCCRACKEN FINANCIAL SOLUTIONSEIN 23-2958188Plan #001PY 2020

8 SUBURBAN PARK DRIVE - BILLERICA, MA 018213903978-439-9000

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$11.9M

+12.1% from 2019

Total participants

-2.5% from 2019

Average account balance

$158,890

+0.2% from 2019

Annual return

12.96%

-9.89 pp from 2019

Benchmarks

See 3,014 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants25-99

Cohort3,014 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.57M

Not enough data

1 years with asset history on file

Average account balance

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

$244K

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.

96.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$823K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+12.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$40775

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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$977K

$14578 / participant

Other / not subdivided$977K100.0%

% of EOY assets

8.196%

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

$158,890

$70,475+125.5%

$100,530+58.1%

$79,858+99.0%

Participation rate

95.5%

73.7%+21.9pp

79.4%+16.1pp

69.6%+25.9pp

Annual return

12.96%

21.90%-8.9pp

30.89%-17.9pp

31.72%-18.8pp

Employer contribution / active EE

$2,801

$2,165+29.4%

$3,418-18.1%

$2,471+13.4%

Participant deferral / active EE

$9,716

$5,181+87.5%

$6,271+54.9%

$3,740+159.8%

Admin fee / account holder

$13,023

$4,478+190.8%

$8,083+61.1%

$5,306+145.4%

MCCRACKEN FINANCIAL SOLUTIONS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCCRACKEN FINANCIAL SOLUTIONS 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