Retirement plan

MEC, INC. RETIREMENT SAVINGS PLAN

Name: MEC, INC. - MEC, INC. RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: MEC, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEC, INC. RETIREMENT SAVINGS PLAN, MEC, INC.

MEC, INC.EIN 34-1404108Plan #002PY 2023

4919 CONTRACTOR RD, PO BOX 278 - EDWARDS AFB, CA 93523661-258-8060moritzburke.comLinkedIn1-10 employeesenvironmental services

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$3.8M

+14.5% from 2022

Total participants

101

+12.2% from 2022

Average account balance

$39,893

+4.9% from 2022

Annual return

13.25%

+30.00 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

$4.69M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

143

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.

141.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$506K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+15.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2207

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

OpportunityLow participant contribution
Participant 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.)

Expense breakdown

Schedule H Part II

Admin total

$405K

$6429 / participant

Other / not subdivided$405K100.0%

% of EOY assets

10.576%

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

$39,893

$73,978-46.1%

$96,515-58.7%

$75,173-46.9%

Participation rate

92.1%

66.4%+25.6pp

74.3%+17.7pp

67.2%+24.9pp

Annual return

13.25%

26.72%-13.5pp

35.73%-22.5pp

160.72%-147.5pp

Employer contribution / active EE

$4,771

$2,931+62.8%

$3,740+27.6%

$2,671+78.6%

Participant deferral / active EE

$621

$3,660-83.0%

$4,880-87.3%

$4,126-84.9%

Admin fee / account holder

$4,219

$5,219-19.2%

$6,735-37.4%

$5,651-25.3%

MEC, INC. RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEC, INC. RETIREMENT SAVINGS 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