Retirement plan

RICHARD MCNAY, INC. 401(K) PROFIT SHARING PLAN

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

RICHARD MCNAY, INC.EIN 37-1027643Plan #001PY 2020

700 N. SECOND - QUINCY, IL 62301217-222-0248LinkedIn51-200 employeesrailroad manufacture

Prospect flagsLow returnsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$12.1M

+5.8% from 2019

Total participants

217

+5.3% from 2019

Average account balance

$90,760

-6.2% from 2019

Annual return

2.51%

-7.76 pp from 2019

Benchmarks

See 1,062 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants100-249

Cohort1,062 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.10M

Not enough data

1 years with asset history on file

Average account balance

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

$47K

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.

171

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.

92.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$120K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$802

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

+0.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$83

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 10 of 18 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years Filed as: MASSACHUSETTS MUTUAL LIFE INS CO Service code 49 · EIN 04-1590850	Other Services	$8,412
BANKERS TRUST COMPANY1 year Filed as: TI TRUST, INC Service code 21	Bank Trustee	$6,121
WADE STABLES P.C.4 years Filed as: WADE STABLES PC Service code 10 · EIN 43-1498457	Accounting	$6,000
QUALIFIED PLANS, LLC4 years Service code 13 · EIN 58-2605083	Contract Administrator	$3,158
FUTURE PLAN CONSULTING - FORT WAYNE1 year Service code 13 · EIN 11-3665754	Contract Administrator	$2,910
QUALIFIED PLANS, LLC5+ years Filed as: QUALIFIED PLANS LLC Service code 15	Recordkeeping	$2,348
QUALIFIED PLANS, LLC1 year Filed as: QUALIFIED PLANS, LLC OF PEORIA Service code 13	Contract Administrator	$275
AMERICAN FUNDS2 years Filed as: AMERICA FUNDS Service code 52	Indirect Investment Fees	$0
FRANKLIN TEMPLETON3 years Service code 52	Indirect Investment Fees	$0
INVESCO3 years Service code 52 · EIN 93-6305075	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2F2J2T3D3H

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).
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

3 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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$8K

$45 / participant

Contract admin$8K100.0%

% of EOY assets

0.070%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: WADE STABLES P.C.
Auditor EIN: 431498457
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$90,760

$55,636+63.1%

$81,982+10.7%

$73,497+23.5%

Participation rate

55.1%

62.3%-7.2pp

69.3%-14.2pp

70.7%-15.6pp

Annual return

2.51%

19.07%-16.6pp

41.31%-38.8pp

28.51%-26.0pp

Employer contribution / active EE

$1,696

$1,625+4.4%

$2,498-32.1%

$2,270-25.3%

Participant deferral / active EE

$1,830

$2,762-33.7%

$3,722-50.8%

$3,740-51.1%

Admin fee / account holder

$63

$493-87.2%

$5,665-98.9%

$513-87.7%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO

Service code 49 · EIN 04-1590850

Other Services

$8,412

BANKERS TRUST COMPANY1 year

Filed as: TI TRUST, INC

Service code 21

Bank Trustee

$6,121

WADE STABLES P.C.4 years

Filed as: WADE STABLES PC

Service code 10 · EIN 43-1498457

Accounting

$6,000

QUALIFIED PLANS, LLC4 years

Service code 13 · EIN 58-2605083

Contract Administrator

$3,158

FUTURE PLAN CONSULTING - FORT WAYNE1 year

Service code 13 · EIN 11-3665754

Contract Administrator

$2,910

QUALIFIED PLANS, LLC5+ years

Filed as: QUALIFIED PLANS LLC

Service code 15

Recordkeeping

$2,348

QUALIFIED PLANS, LLC1 year

Filed as: QUALIFIED PLANS, LLC OF PEORIA

Service code 13

Contract Administrator

$275

AMERICAN FUNDS2 years

Filed as: AMERICA FUNDS

Service code 52

Indirect Investment Fees

FRANKLIN TEMPLETON3 years

Service code 52

Indirect Investment Fees

INVESCO3 years

Service code 52 · EIN 93-6305075

Indirect Investment Fees

RICHARD MCNAY, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RICHARD MCNAY, 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