Retirement plan

ANCORA - MEP

Name: GENE'S REFRIGERATION, INC. - ANCORA - MEP (2023) Form 5500
Creator: GENE'S REFRIGERATION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ANCORA - MEP, GENE'S REFRIGERATION, INC.

GENE'S REFRIGERATION, INC.EIN 34-1335710Plan #003PY 2023

6222 NORWALK ROAD - MEDINA, OH 44256330-723-4104genesrefrigeration.comLinkedIn11-50 employeesfacilities services

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$1.1M

+35.6% from 2022

Total participants

+21.9% from 2022

Average account balance

$53,455

+28.8% from 2022

Annual return

20.80%

+40.55 pp from 2022

Benchmarks

See 18,037 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,037 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.48M

Not enough data

1 years with asset history on file

Average account balance

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

$62K

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.

66.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$213K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+19.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

$918

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 codes2E2F2G2J2T3D3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$96K

$2608 / participant

Other / not subdivided$96K100.0%

% of EOY assets

9.026%

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

$53,455

$73,978-27.7%

$96,515-44.6%

$75,173-28.9%

Participation rate

48.6%

66.4%-17.8pp

74.3%-25.7pp

67.2%-18.6pp

Annual return

20.80%

26.72%-5.9pp

35.73%-14.9pp

160.72%-139.9pp

Employer contribution / active EE

$1,553

$2,931-47.0%

$3,740-58.5%

$2,671-41.9%

Participant deferral / active EE

$3,877

$3,660+5.9%

$4,880-20.6%

$4,126-6.0%

Admin fee / account holder

$4,825

$5,219-7.5%

$6,735-28.4%

$5,651-14.6%

ANCORA - MEP

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ANCORA - MEP

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