Retirement plan

MORGAN ENGINEERING SYSTEMS, INC. 401(K) PLAN

Name: MORGAN ENGINEERING SYSTEMS, INC. - MORGAN ENGINEERING SYSTEMS, INC. 401(K) PLAN (2024) Form 5500
Creator: MORGAN ENGINEERING SYSTEMS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MORGAN ENGINEERING SYSTEMS, INC. 401(K) PLAN, MORGAN ENGINEERING SYSTEMS, INC.

MORGAN ENGINEERING SYSTEMS, INC.EIN 27-2137101Plan #002PY 2024

1049 S. MAHONING AVENUE - ALLIANCE, OH 44601330-823-6130LinkedIn51-200 employeesmachinery

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$14.5M

+19.1% from 2023

Total participants

251

+13.6% from 2023

Average account balance

$87,259

+1.1% from 2023

Annual return

15.13%

-15.67 pp from 2023

Benchmarks

See 4,104 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,104 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.49M

Not enough data

1 years with asset history on file

Average account balance

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

$87K

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.

166

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.

62.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.62M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+15.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$408

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

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
ONEDIGITAL INVESTMENT ADVISORS LLC1 year Filed as: ONEDIGITAL TOPCO LLC Service code 28 · EIN 82-1434504	Investment Management	$37,812
CHARLES SCHWAB & CO., INC.4 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$29,928
CHARLES SCHWAB & CO., INC.4 years Service code 33 · EIN 94-1737782	Shareholder servicing fees; Float rev...	$0
CHARLES SCHWAB & CO., INC.2 years Filed as: CHARLES SCHWAB & CO.INC. AND AFFIL Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2G2J2K2R2S3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$68K

$299 / participant

Recordkeeping$27K39.5%
Investment mgmt$41K60.5%

% of EOY assets

0.468%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: 415 GROUP
Auditor EIN: 341341400
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$87,259

$79,184+10.2%

$102,438-14.8%

$74,546+17.1%

Participation rate

62.6%

74.8%-12.2pp

76.5%-13.9pp

67.2%-4.7pp

Annual return

15.13%

54.95%-39.8pp

29.37%-14.2pp

1366.03%-1350.9pp

Employer contribution / active EE

$2,181

$2,362-7.7%

$3,024-27.9%

$2,624-16.9%

Participant deferral / active EE

$4,962

$4,414+12.4%

$5,054-1.8%

$4,347+14.1%

Admin fee / account holder

$408

$2,001-79.6%

$9,448-95.7%

$1,944-79.0%

Provider

Service type

Compensation

ONEDIGITAL INVESTMENT ADVISORS LLC1 year

Filed as: ONEDIGITAL TOPCO LLC

Service code 28 · EIN 82-1434504

Investment Management

$37,812

CHARLES SCHWAB & CO., INC.4 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$29,928

CHARLES SCHWAB & CO., INC.4 years

Service code 33 · EIN 94-1737782

Shareholder servicing fees; Float rev...

CHARLES SCHWAB & CO., INC.2 years

Filed as: CHARLES SCHWAB & CO.INC. AND AFFIL

Service code 59

Shareholder Servicing

MORGAN ENGINEERING SYSTEMS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MORGAN ENGINEERING SYSTEMS, INC. 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