Retirement plan

MIDWEST PATTERNS, INC. 401(K) PROFIT SHARING PLAN

Name: MIDWEST PATTERNS, INC. - MIDWEST PATTERNS, INC. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: MIDWEST PATTERNS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDWEST PATTERNS, INC. 401(K) PROFIT SHARING PLAN, MIDWEST PATTERNS, INC.

MIDWEST PATTERNS, INC.EIN 37-0896487Plan #001PY 2022

4901 NORTH 12TH STREET - QUINCY, IL 62305217-228-6900midwestpatterns.comLinkedIn51-200 employeesplastics

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$9.6M

-24.9% from 2021

Total participants

-5.1% from 2021

Average account balance

$142,988

-14.8% from 2021

Annual return

-12.66%

-23.84 pp from 2021

Benchmarks

See 14,494 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,494 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.99M

Not enough data

1 years with asset history on file

Average account balance

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

$196K

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.

130.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$147K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$18945

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 codes2E2F2G2J2T3B3D

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

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

$1.8M

$32271 / participant

Other / not subdivided$2M100.0%

% of EOY assets

19.200%

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

$142,988

$71,878+98.9%

$86,698+64.9%

$68,486+108.8%

Participation rate

86.0%

72.2%+13.7pp

76.6%+9.4pp

67.9%+18.1pp

Annual return

-12.66%

3.53%-16.2pp

35.95%-48.6pp

-7.85%-4.8pp

Employer contribution / active EE

$1,843

$2,173-15.2%

$2,837-35.0%

$2,597-29.0%

Participant deferral / active EE

$2,683

$3,779-29.0%

$4,656-42.4%

$4,028-33.4%

Admin fee / account holder

$27,454

$6,113+349.1%

$7,493+266.4%

$5,404+408.1%

MIDWEST PATTERNS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDWEST PATTERNS, INC. 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