Retirement plan

MIDWEST TRANSIT EQUIPMENT, INC. PROFIT SHARING 401(K) PLAN AND TRUST

Name: MIDWEST TRANSIT EQUIPMENT, INC. - MIDWEST TRANSIT EQUIPMENT, INC. PROFIT SHARING 401(K) PLAN AND TRUST (2020) Form 5500
Creator: MIDWEST TRANSIT EQUIPMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDWEST TRANSIT EQUIPMENT, INC. PROFIT SHARING 401(K) PLAN AND TRUST, MIDWEST TRANSIT EQUIPMENT, INC.

MIDWEST TRANSIT EQUIPMENT, INC.EIN 36-3033895Plan #001PY 2020

146 W. ISSERT DRIVE - KANKAKEE, IL 60901815-614-1468midwesttransit.comLinkedIn201-500 employeesautomotive

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$31.4M

+11.1% from 2019

Total participants

358

-10.1% from 2019

Average account balance

$119,967

+20.0% from 2019

Annual return

11.57%

-5.61 pp from 2019

Benchmarks

See 659 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants250-999

Cohort659 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$26.95M

Not enough data

1 years with asset history on file

Average account balance

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

$110K

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.

244

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.

80.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.85M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+11.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$505

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 3 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY5+ years Service code 26 · EIN 71-0294708	Advisory (Participants)	$73,907
WINTRUST INVESTMENTS LLC3 years Filed as: WAYNE HUMMER INVESTMENTS Service code 99 · EIN 36-1245570	Other Fees	$58,333
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT Service code 26 · EIN 36-4317381	Advisory (Participants)	$10,122

Plan features & details

Pension benefit codes2E2F2G2J2K

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.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$74K

$246 / participant

Other / not subdivided$74K100.0%

% of EOY assets

0.235%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: COHNREZNICK LLP
Auditor EIN: 221478099
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$119,967

$51,288+133.9%

$81,991+46.3%

$73,412+63.4%

Participation rate

68.0%

64.0%+4.0pp

69.3%-1.3pp

72.2%-4.2pp

Annual return

11.57%

29.48%-17.9pp

41.31%-29.7pp

59.30%-47.7pp

Employer contribution / active EE

$1,677

$1,487+12.8%

$2,498-32.9%

$2,234-24.9%

Participant deferral / active EE

$2,976

$2,715+9.6%

$3,722-20.0%

$3,806-21.8%

Admin fee / account holder

$282

$125+125.1%

$5,665-95.0%

$158+78.7%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY5+ years

Service code 26 · EIN 71-0294708

Advisory (Participants)

$73,907

WINTRUST INVESTMENTS LLC3 years

Filed as: WAYNE HUMMER INVESTMENTS

Service code 99 · EIN 36-1245570

Other Fees

$58,333

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT

Service code 26 · EIN 36-4317381

Advisory (Participants)

$10,122

MIDWEST TRANSIT EQUIPMENT, INC. PROFIT SHARING 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDWEST TRANSIT EQUIPMENT, INC. PROFIT SHARING 401(K) PLAN AND TRUST

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