Retirement plan

MARTIN ENGINEERING COMPANY 401(K) PROFIT SHARING PLAN

Name: MARTIN ENGINEERING COMPANY - MARTIN ENGINEERING COMPANY 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: MARTIN ENGINEERING COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MARTIN ENGINEERING COMPANY 401(K) PROFIT SHARING PLAN, MARTIN ENGINEERING COMPANY

MARTIN ENGINEERING COMPANYEIN 36-2336135Plan #002PY 2024

ONE MARTIN PLACE - NEPONSET, IL 613459766309-852-2384martin-eng.comLinkedIn501-1000 employeesmining & metals

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed October 22, 2019 (most recent of 2 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

One Martin Place

Neponset, IL 61345

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Plans declared (3)

Plan name not on file15 emp
Plan name not on file15 emp
Plan name not on file15 emp

Total covered: 45 employees

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Total assets (EOY)

$45.5M

+9.5% from 2023

Total participants

283

-2.7% from 2023

Average account balance

$167,886

+12.7% from 2023

Annual return

13.53%

-4.69 pp from 2023

Benchmarks

See 4,103 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,103 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$45.50M

Not enough data

1 years with asset history on file

Average account balance

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

$168K

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.

271

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.

95.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.80M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+13.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$349

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290	Contract Administrator	$65,078
GLOBAL RETIREMENT PARTNERS LLC5 years Filed as: GLOBAL RETIREMENT Service code 16 · EIN 47-1411118	Consulting	$28,749
THE RETIREMENT ADVANTAGE INC10+ years Service code 13 · EIN 39-1816008	Contract Administrator	$25,125
WELLTH ADVISORY SERVICES LLC1 year Filed as: WELLTH ADVISORY Service code 13 · EIN 99-2539506	Contract Administrator	$22,501

Plan features & details

Pension benefit codes2E2F2G2J2K3D3H

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.
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

1 tripped

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

$95K

$398 / participant

Recordkeeping$7K7.7%
Contract admin$87K92.3%

% of EOY assets

0.208%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PLANTE & MORAN, PLLC
Auditor EIN: 331498605
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$167,886

$79,181+112.0%

$102,423+63.9%

$74,429+125.6%

Participation rate

95.0%

74.8%+20.2pp

76.5%+18.5pp

67.2%+27.7pp

Annual return

13.53%

54.97%-41.4pp

29.42%-15.9pp

1368.38%-1354.8pp

Employer contribution / active EE

$3,461

$2,362+46.6%

$3,023+14.5%

$2,625+31.9%

Participant deferral / active EE

$8,297

$4,416+87.9%

$5,054+64.2%

$4,348+90.8%

Admin fee / account holder

$349

$2,002-82.5%

$9,455-96.3%

$1,944-82.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY10+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$65,078

GLOBAL RETIREMENT PARTNERS LLC5 years

Filed as: GLOBAL RETIREMENT

Service code 16 · EIN 47-1411118

Consulting

$28,749

THE RETIREMENT ADVANTAGE INC10+ years

Service code 13 · EIN 39-1816008

Contract Administrator

$25,125

WELLTH ADVISORY SERVICES LLC1 year

Filed as: WELLTH ADVISORY

Service code 13 · EIN 99-2539506

Contract Administrator

$22,501

MARTIN ENGINEERING COMPANY 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (3)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MARTIN ENGINEERING COMPANY 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (3)

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