Retirement plan

MK HEATING AND AIR CONDITIONING, INC. 401(K) PLAN

Name: MK HEATING AND AIR CONDITIONING, INC. - MK HEATING AND AIR CONDITIONING, INC. 401(K) PLAN (2020) Form 5500
Creator: MK HEATING AND AIR CONDITIONING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MK HEATING AND AIR CONDITIONING, INC. 401(K) PLAN, MK HEATING AND AIR CONDITIONING, INC.

MK HEATING AND AIR CONDITIONING, INC.EIN 27-5500441Plan #001PY 2020

21354 NORDHOFF STREET SUITE 109 - CHATSWORTH, CA 91311805-584-1000mkheatingandair.comLinkedIn11-50 employeesindividual & family services

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$264K

+222.4% from 2019

Total participants

+15.0% from 2019

Average account balance

$20,305

+24.0% from 2019

Annual return

38.77%

+38.77 pp from 2019

Benchmarks

See 42,032 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort42,032 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.40M

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

80.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$177K

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

+20.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$33

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 codes2F2G2J2T3D

Plan features

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

$230

$10 / participant

Other / not subdivided$230100.0%

% of EOY assets

0.087%

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

$20,305

$115,814-82.5%

$101,275-80.0%

$158,982-87.2%

Participation rate

56.5%

79.4%-22.8pp

75.8%-19.3pp

82.0%-25.4pp

Annual return

38.77%

56.16%-17.4pp

46.48%-7.7pp

302.99%-264.2pp

Employer contribution / active EE

$1,256

$4,176-69.9%

$3,660-65.7%

$4,763-73.6%

Participant deferral / active EE

$5,281

$4,958+6.5%

$4,371+20.8%

$5,983-11.7%

Admin fee / account holder

$18

$7,249-99.8%

$5,948-99.7%

$11,252-99.8%

MK HEATING AND AIR CONDITIONING, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MK HEATING AND AIR CONDITIONING, 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