Retirement plan

MICHAEL'S / MFH, INC. PROFIT SHARING PLAN

Name: MICHAEL'S / MFH, INC. - MICHAEL'S / MFH, INC. PROFIT SHARING PLAN (2020) Form 5500
Creator: MICHAEL'S / MFH, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICHAEL'S / MFH, INC. PROFIT SHARING PLAN, MICHAEL'S / MFH, INC.

MICHAEL'S / MFH, INC.EIN 31-1117594Plan #001PY 2020

241 E. ALEX BELL ROAD - CENTERVILLE, OH 45459937-435-5478michaelsam-hub.comLinkedIn1-10 employeesrestaurants

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$4.9M

+23.1% from 2019

Total participants

-12.9% from 2019

Average account balance

$90,521

+41.3% from 2019

Annual return

25.12%

+2.85 pp from 2019

Benchmarks

See 8,767 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort8,767 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.36M

Not enough data

1 years with asset history on file

Average account balance

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

$110K

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.

101.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$181K

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

+17.63%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1490

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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$206K

$4905 / participant

Other / not subdivided$206K100.0%

% of EOY assets

4.214%

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

$90,521

$60,139+50.5%

$90,461+0.1%

$79,856+13.4%

Participation rate

100.0%

65.0%+35.0pp

72.7%+27.3pp

69.6%+30.4pp

Annual return

25.12%

71.96%-46.8pp

1294.76%-1269.6pp

31.71%-6.6pp

Employer contribution / active EE

$2,069-100.0%

$3,264-100.0%

$2,471-100.0%

Participant deferral / active EE

$2,750

$2,939-6.4%

$3,964-30.6%

$3,741-26.5%

Admin fee / account holder

$3,815

$3,978-4.1%

$5,617-32.1%

$5,306-28.1%

MICHAEL'S / MFH, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICHAEL'S / MFH, INC. 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