Retirement plan

MAIN STREET FINANCIAL SOLUTIONS 401(K)

Name: MAIN STREET FINANCIAL SOLUTIONS, LLC - MAIN STREET FINANCIAL SOLUTIONS 401(K) (2024) Form 5500
Creator: MAIN STREET FINANCIAL SOLUTIONS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MAIN STREET FINANCIAL SOLUTIONS 401(K), MAIN STREET FINANCIAL SOLUTIONS, LLC

MAIN STREET FINANCIAL SOLUTIONS, LLCEIN 33-1011940Plan #001PY 2024

503 E WASHINGTON AVENUE, SUITE 1C - NEWTOWN, PA 18940609-303-3733msfsolutions.comLinkedIn51-200 employeesfinancial services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$8.3M

+50.3% from 2023

Total participants

+10.4% from 2023

Average account balance

$156,018

+36.1% from 2023

Annual return

37.76%

+20.93 pp from 2023

Benchmarks

See 7,155 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,155 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.27M

Not enough data

1 years with asset history on file

Average account balance

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

$156K

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.

126.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$998K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$24K

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

+37.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5987

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 codes2E3D2G2J2F2T

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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$317K

$7555 / participant

Other / not subdivided$317K100.0%

% of EOY assets

3.838%

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

$156,018

$138,385+12.7%

$184,243-15.3%

$80,925+92.8%

Participation rate

100.0%

83.9%+16.1pp

86.8%+13.2pp

67.7%+32.3pp

Annual return

37.76%

20.02%+17.7pp

28.82%+8.9pp

35.65%+2.1pp

Employer contribution / active EE

$5,698

$4,851+17.5%

$6,427-11.3%

$2,756+106.7%

Participant deferral / active EE

$18,069

$7,075+155.4%

$9,132+97.9%

$4,299+320.3%

Admin fee / account holder

$5,987

$10,489-42.9%

$13,914-57.0%

$6,940-13.7%

MAIN STREET FINANCIAL SOLUTIONS 401(K)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MAIN STREET FINANCIAL SOLUTIONS 401(K)

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