Retirement plan

MID AMERICAN STEEL & WIRE COMPANY, LLC 401(K) PROFIT SHARING PLAN

Name: MID AMERICAN STEEL & WIRE COMP - MID AMERICAN STEEL & WIRE COMPANY, LLC 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: MID AMERICAN STEEL & WIRE COMP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MID AMERICAN STEEL & WIRE COMPANY, LLC 401(K) PROFIT SHARING PLAN, MID AMERICAN STEEL & WIRE COMP

MID AMERICAN STEEL & WIRE COMPEIN 30-0103497Plan #001PY 2022

1327 SMILEY ROAD, PO BOX 296 - MADILL, OK 73445405-570-3748midamericansteel.comLinkedIn1-10 employees

Prospect flagsHigh feesLow assets / participantLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$6.1M

+8.7% from 2021

Total participants

262

-23.8% from 2021

Average account balance

$23,730

+13.7% from 2021

Annual return

2.97%

-9.48 pp from 2021

Benchmarks

See 2,389 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,389 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.92M

Not enough data

1 years with asset history on file

Average account balance

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

$29K

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.

271

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.

99.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$649K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+10.00%

Not enough data

1 years with return on file

Admin fee / account holder

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

$148

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GREAT WEST LIFE & ANNUITY INSURANCE Service code 49 · EIN 84-0467907	Other Services	$96,676
AMERICAN CENTURY5 years Service code 52 · EIN 44-6006315	Indirect Investment Fees	$0
BARON5 years Service code 52 · EIN 13-6891420	Indirect Investment Fees	$0
INVESCO3 years Service code 52 · EIN 84-1120195	Indirect Investment Fees	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.7+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$0
T ROWE PRICE RPS INC5 years Filed as: T. ROWE PRICE Service code 52 · EIN 52-0791372	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D2T

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.
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.
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

6 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$97K

$372 / participant

Investment mgmt$87K90.3%
Contract admin$9K9.7%

% of EOY assets

1.573%

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: FINLEY & COOK, PLLC
Auditor EIN: 730604334
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$23,730

$72,303-67.2%

$86,691-72.6%

$64,814-63.4%

Participation rate

98.8%

80.4%+18.4pp

76.6%+22.3pp

71.5%+27.4pp

Annual return

2.97%

392.77%-389.8pp

35.94%-33.0pp

32.84%-29.9pp

Employer contribution / active EE

$396

$2,393-83.4%

$2,837-86.0%

$2,507-84.2%

Participant deferral / active EE

$1,965

$4,660-57.8%

$4,656-57.8%

$4,310-54.4%

Admin fee / account holder

$373

$174+114.5%

$7,492-95.0%

$188+98.7%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GREAT WEST LIFE & ANNUITY INSURANCE

Service code 49 · EIN 84-0467907

Other Services

$96,676

AMERICAN CENTURY5 years

Service code 52 · EIN 44-6006315

Indirect Investment Fees

BARON5 years

Service code 52 · EIN 13-6891420

Indirect Investment Fees

INVESCO3 years

Service code 52 · EIN 84-1120195

Indirect Investment Fees

MASSACHUSETTS MUTUAL LIFE INS. CO.7+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

T ROWE PRICE RPS INC5 years

Filed as: T. ROWE PRICE

Service code 52 · EIN 52-0791372

Indirect Investment Fees

MID AMERICAN STEEL & WIRE COMPANY, LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MID AMERICAN STEEL & WIRE COMPANY, LLC 401(K) PROFIT SHARING 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