Retirement plan

MITCHELL VENEERS, INC. SAFE HARBOR 401(K) PLAN

Name: MITCHELL VENEERS, INC. - MITCHELL VENEERS, INC. SAFE HARBOR 401(K) PLAN (2020) Form 5500
Creator: MITCHELL VENEERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MITCHELL VENEERS, INC. SAFE HARBOR 401(K) PLAN, MITCHELL VENEERS, INC.

MITCHELL VENEERS, INC.EIN 35-1806110Plan #001PY 2020

12411 HUMMINGBIRD WAY - SELLERSBURG, IN 471729683812-246-0147mitchellveneer.netLinkedIn1-10 employeespaper & forest products

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$1.2M

+16.2% from 2019

Total participants

+22.2% from 2019

Average account balance

$174,382

-0.4% from 2019

Annual return

12.31%

-4.39 pp from 2019

Benchmarks

See 22,194 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort22,194 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.70M

Not enough data

1 years with asset history on file

Average account balance

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

$189K

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.

81.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$43K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+13.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2788

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

1 tripped

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

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

$174,382

$162,821+7.1%

$133,978+30.2%

$158,982+9.7%

Participation rate

63.6%

83.2%-19.6pp

79.8%-16.2pp

82.0%-18.3pp

Annual return

12.31%

41.95%-29.6pp

45.10%-32.8pp

302.99%-290.7pp

Employer contribution / active EE

$1,180

$4,976-76.3%

$3,919-69.9%

$4,763-75.2%

Participant deferral / active EE

$2,542

$5,910-57.0%

$5,047-49.6%

$5,983-57.5%

Admin fee / account holder

$11,742-100.0%

$8,930-100.0%

$11,252-100.0%

MITCHELL VENEERS, INC. SAFE HARBOR 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

MITCHELL VENEERS, INC. SAFE HARBOR 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion