Retirement plan

RETIREMENT PLAN FOR UNION EMPLOYEES OF MCAR, INC.

Name: MCAR, INC. - RETIREMENT PLAN FOR UNION EMPLOYEES OF MCAR, INC. (2023) Form 5500
Creator: MCAR, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RETIREMENT PLAN FOR UNION EMPLOYEES OF MCAR, INC., MCAR, INC.

MCAR, INC.EIN 25-1045485Plan #002PY 2023

850 NORTH HERMITAGE RD - HERMITAGE, PA 16148724-981-2950

Other plans on this EIN

2 filings

#001Retirement-$2.8M assets #003Retirement-$257K assets

Prospect flagsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$1.7M

+18.9% from 2022

Total participants

112

-2.6% from 2022

Average account balance

$15,698

+7.9% from 2022

Annual return

18.49%

+30.66 pp from 2022

Benchmarks

See 20,801 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort20,801 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.85M

Not enough data

1 years with asset history on file

Average account balance

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

$18K

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.

104

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.

162.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$126K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+10.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1483

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 codes2C3D2G2F2T

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit 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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$135K

$2172 / participant

Other / not subdivided$135K100.0%

% of EOY assets

7.942%

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

$15,698

$77,908-79.9%

$149,696-89.5%

$75,173-79.1%

Participation rate

93.5%

65.6%+28.0pp

78.8%+14.8pp

67.2%+26.3pp

Annual return

18.49%

31.73%-13.2pp

134.46%-116.0pp

160.72%-142.2pp

Employer contribution / active EE

$2,108

$3,138-32.8%

$4,821-56.3%

$2,671-21.1%

Participant deferral / active EE

$3,411-100.0%

$5,682-100.0%

$4,126-100.0%

Admin fee / account holder

$1,247

$5,950-79.0%

$13,212-90.6%

$5,651-77.9%

RETIREMENT PLAN FOR UNION EMPLOYEES OF MCAR, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RETIREMENT PLAN FOR UNION EMPLOYEES OF MCAR, INC.

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