Retirement plan

MID ATLANTIC INDUSTRIAL EQUIPMENT LTD 401(K) PLAN

Name: MID ATLANTIC INDUSTRIAL EQUIPMENT - MID ATLANTIC INDUSTRIAL EQUIPMENT LTD 401(K) PLAN (2023) Form 5500
Creator: MID ATLANTIC INDUSTRIAL EQUIPMENT
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MID ATLANTIC INDUSTRIAL EQUIPMENT LTD 401(K) PLAN, MID ATLANTIC INDUSTRIAL EQUIPMENT

MID ATLANTIC INDUSTRIAL EQUIPMENTEIN 27-4101958Plan #001PY 2023

1231 WALLACE ST - YORK, PA 174031237717-846-2375midatlanticindustrial.comLinkedIn51-200 employeesmachinery

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$3.8M

+35.1% from 2022

Total participants

+9.1% from 2022

Average account balance

$74,530

+19.2% from 2022

Annual return

20.03%

+39.00 pp from 2022

Benchmarks

See 9,211 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,211 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.85M

Not enough data

1 years with asset history on file

Average account balance

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

$88K

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.

75.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$487K

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

+15.72%

Not enough data

1 years with return on file

Admin fee / account holder

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

$705

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$3K

$51 / participant

Other / not subdivided$3K100.0%

% of EOY assets

0.091%

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

$74,530

$91,537-18.6%

$130,045-42.7%

$75,173-0.9%

Participation rate

69.1%

71.5%-2.3pp

78.5%-9.4pp

67.2%+1.9pp

Annual return

20.03%

-631.55%+651.6pp

-137.30%+157.3pp

160.72%-140.7pp

Employer contribution / active EE

$2,640

$2,845-7.2%

$4,321-38.9%

$2,671-1.1%

Participant deferral / active EE

$3,634

$4,343-16.3%

$5,820-37.6%

$4,126-11.9%

Admin fee / account holder

$68

$6,780-99.0%

$10,600-99.4%

$5,651-98.8%

MID ATLANTIC INDUSTRIAL EQUIPMENT LTD 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MID ATLANTIC INDUSTRIAL EQUIPMENT LTD 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