Retirement plan

MCHENRY & ASSOCIATES, INC. PROFIT SHARING PLAN AND TRUST

Name: MCHENRY & ASSOCIATES, INC. - MCHENRY & ASSOCIATES, INC. PROFIT SHARING PLAN AND TRUST (2023) Form 5500
Creator: MCHENRY & ASSOCIATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCHENRY & ASSOCIATES, INC. PROFIT SHARING PLAN AND TRUST, MCHENRY & ASSOCIATES, INC.

MCHENRY & ASSOCIATES, INC.EIN 34-1154346Plan #001PY 2023

25001 EMERY ROAD, SUITE 200 - WARRENSVILLE HEIGHTS, OH 44128216-292-4696mchenryassociates.comLinkedIn11-50 employeesdesign

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$10.2M

+13.1% from 2022

Total participants

+3.4% from 2022

Average account balance

$353,209

+13.1% from 2022

Annual return

18.16%

+36.17 pp from 2022

Benchmarks

See 28,714 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,714 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.90M

Not enough data

1 years with asset history on file

Average account balance

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

$350K

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.

117.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$605K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+16.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$696

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 codes2E2J3D2F2T

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).
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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$1.0M

$38739 / participant

Other / not subdivided$1M100.0%

% of EOY assets

10.211%

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

$353,209

$93,589+277.4%

$135,942+159.8%

$75,181+369.8%

Participation rate

96.3%

75.2%+21.1pp

81.9%+14.4pp

67.2%+29.1pp

Annual return

18.16%

30.90%-12.7pp

68.28%-50.1pp

160.69%-142.5pp

Employer contribution / active EE

$11,931

$3,537+237.3%

$4,858+145.6%

$2,671+346.8%

Participant deferral / active EE

$9,850

$6,405+53.8%

$7,759+26.9%

$4,126+138.7%

Admin fee / account holder

$36,067

$6,977+416.9%

$10,764+235.1%

$5,650+538.4%

MCHENRY & ASSOCIATES, INC. PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCHENRY & ASSOCIATES, INC. PROFIT SHARING PLAN AND TRUST

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