Retirement plan

MISSION LOANS, LLC 401(K) PROFIT SHARING PLAN

Name: MISSION LOANS, LLC - MISSION LOANS, LLC 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: MISSION LOANS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MISSION LOANS, LLC 401(K) PROFIT SHARING PLAN, MISSION LOANS, LLC

MISSION LOANS, LLCEIN 34-1633105Plan #001PY 2020

22632 GOLDEN SPRINGS DR. 200 - DIAMOND BAR, CA 91765330-499-8333missionloans.comLinkedIn51-200 employeesfinancial services

Prospect flagsLow participationLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$2.5M

+30.8% from 2019

Total participants

186

+11.4% from 2019

Average account balance

$56,466

+16.3% from 2019

Annual return

13.32%

-7.07 pp from 2019

Benchmarks

See 2,211 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,211 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$49K

Not enough data

1 years with asset history on file

Average account balance

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

$49K

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.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$431K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$36K

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

+10.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$13000

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
MCGERVEY WEALTH MANAGEMENT3 years Service code 99 · EIN 16-1694786	Other Fees	$7,848
VOYA RETIREMENT INSURANCE & ANNUITY3 years Service code 26 · EIN 71-0294708	Advisory (Participants)	$400

Plan features & details

Pension benefit codes2E2F2G2J2K2R3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$400

$2 / participant

Other / not subdivided$400100.0%

% of EOY assets

0.016%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: NICHOLAS & ROBISON ACCOUNTING
Auditor EIN: 651244609
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$56,466

$136,307-58.6%

$177,827-68.2%

$73,493-23.2%

Participation rate

21.7%

86.1%-64.4pp

87.7%-66.1pp

70.7%-49.0pp

Annual return

13.32%

18.68%-5.4pp

48.32%-35.0pp

28.51%-15.2pp

Employer contribution / active EE

$3,712-100.0%

$5,918-100.0%

$2,270-100.0%

Participant deferral / active EE

$2,310

$5,829-60.4%

$7,713-70.0%

$3,740-38.2%

Admin fee / account holder

$596-98.5%

$12,429-99.9%

$513-98.3%

Provider

Service type

Compensation

MCGERVEY WEALTH MANAGEMENT3 years

Service code 99 · EIN 16-1694786

Other Fees

$7,848

VOYA RETIREMENT INSURANCE & ANNUITY3 years

Service code 26 · EIN 71-0294708

Advisory (Participants)

$400

MISSION LOANS, LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MISSION LOANS, LLC 401(K) 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