Retirement plan

MK SYSTEMS INC PROFIT SHARING & 401K PLAN

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

MK SYSTEMS INCEIN 36-3909428Plan #001PY 2020

1455 BRUMMEL AVE SUITE 200 - ELK GROVE VILLAGE, IL 60007847-709-6180mksystems.bizLinkedIn11-50 employeesmachinery

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.4M

+42.8% from 2019

Total participants

-7.7% from 2019

Average account balance

$123,676

+42.8% from 2019

Annual return

27.09%

-2.67 pp from 2019

Benchmarks

See 22,196 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort22,196 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.23M

Not enough data

1 years with asset history on file

Average account balance

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

$269K

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.

109.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$230K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+15.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2244

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 codes2E2F2G2J2T3D3H

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$60K

$5425 / participant

Other / not subdivided$60K100.0%

% of EOY assets

4.386%

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

$123,676

$162,812-24.0%

$133,971-7.7%

$158,966-22.2%

Participation rate

90.9%

83.2%+7.7pp

79.8%+11.1pp

82.0%+8.9pp

Annual return

27.09%

41.94%-14.9pp

45.09%-18.0pp

302.95%-275.9pp

Employer contribution / active EE

$3,215

$4,976-35.4%

$3,919-17.9%

$4,762-32.5%

Participant deferral / active EE

$15,562

$5,910+163.3%

$5,047+208.3%

$5,983+160.1%

Admin fee / account holder

$5,425

$11,741-53.8%

$8,929-39.2%

$11,250-51.8%

MK SYSTEMS INC PROFIT SHARING & 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MK SYSTEMS INC PROFIT SHARING & 401K 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