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 (2022) 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 2022

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)

$491K

+11.0% from 2021

Total participants

0.0% from 2021

Average account balance

$32,716

+3.6% from 2021

Annual return

-19.22%

-37.19 pp from 2021

Benchmarks

See 48,278 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort48,278 peers

Snapshot2022

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

$285

$13 / participant

Other / not subdivided$285100.0%

% of EOY assets

0.058%

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

$32,716

$133,981-75.6%

$112,249-70.9%

$134,532-75.7%

Participation rate

59.1%

78.6%-19.5pp

75.1%-16.0pp

81.2%-22.1pp

Annual return

-19.22%

47.16%-66.4pp

27.48%-46.7pp

418.27%-437.5pp

Employer contribution / active EE

$1,038

$4,040-74.3%

$3,636-71.5%

$4,741-78.1%

Participant deferral / active EE

$5,029

$5,292-5.0%

$4,729+6.3%

$6,401-21.4%

Admin fee / account holder

$19

$7,492-99.7%

$6,412-99.7%

$11,429-99.8%

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