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 (2024) 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 2024

21354 NORDHOFF ST., SUITE 109 - CHATSWORTH, CA 91311805-584-1100mkheatingandair.comLinkedIn11-50 employeesindividual & family services

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$1M

+36.9% from 2023

Total participants

+6.9% from 2023

Average account balance

$53,315

+15.3% from 2023

Annual return

14.64%

-6.97 pp from 2023

Benchmarks

See 18,536 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,536 peers

Snapshot2024

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

$360

$13 / participant

Other / not subdivided$360100.0%

% of EOY assets

0.036%

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

$53,315

$81,476-34.6%

$102,383-47.9%

$80,925-34.1%

Participation rate

57.1%

66.8%-9.7pp

74.5%-17.4pp

67.7%-10.5pp

Annual return

14.64%

25.59%-11.0pp

24.94%-10.3pp

35.65%-21.0pp

Employer contribution / active EE

$1,387

$3,105-55.3%

$3,870-64.2%

$2,756-49.7%

Participant deferral / active EE

$4,498

$3,871+16.2%

$5,060-11.1%

$4,299+4.6%

Admin fee / account holder

$19

$6,717-99.7%

$8,391-99.8%

$6,940-99.7%

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