Retirement plan

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

Name: RICHARD MCNAY, INC. - RICHARD MCNAY, INC. 401(K) PROFIT SHARING PLAN (2022) 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 2022

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

Prospect flagsLow returnsCorrective distributions

How to read this page

Total assets (EOY)

$11.2M

-26.8% from 2021

Total participants

217

-1.4% from 2021

Average account balance

$56,910

-23.0% from 2021

Annual return

-19.52%

-45.18 pp from 2021

Benchmarks

See 1,125 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants100-249

Cohort1,125 peers

Snapshot2022

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

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

Service providers

Top 10 of 20 by compensation

Provider	Service type	Compensation
BANKERS TRUST COMPANY2 years Filed as: TI-TRUST, INC. Service code 21 · EIN 20-1171923	Bank Trustee	$25,157
MASSACHUSETTS MUTUAL LIFE INS. CO.7+ years Filed as: MASSACHUSETTS MUTUAL LIFE INS CO Service code 52 · EIN 04-1590850	Indirect Investment Fees	$13,656
FUTURE PLAN CONSULTING - FORT WAYNE3 years Service code 13 · EIN 11-3665754	Contract Administrator	$12,757
WADE STABLES P.C.2 years Service code 10 · EIN 43-1498457	Accounting	$7,685
ASCENSUS LLC2 years Filed as: ASCENSUS Service code 13 · EIN 82-3719843	Contract Administrator	$2,348
ASCENSUS LLC1 year Filed as: FUTURE PLAN BY ASCENSUS Service code 13 1102 CHESTNUT HILLS PRKY SUITE 100 · FORT WAYNE, IN 46814	Contract Administrator	$875
ASCENSUS LLC2 years Filed as: ASCENSUS, LLC Service code 17 · EIN 82-3719843	Pension Consulting	$783
BANKERS TRUST COMPANY1 year Filed as: TI TRUST Service code 21 · EIN 20-1171923	Bank Trustee	$549
ASCENSUS LLC1 year Filed as: FUTUREPLAN BY ASCENSUS Service code 13	Contract Administrator	$500
AMERICAN FUNDS5 years Service code 52 · EIN 94-6050854	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2F2J2K2T3D3H

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.
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.
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

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

$46K

$277 / participant

Contract admin$46K100.0%

% of EOY assets

0.413%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$56,910

$63,471-10.3%

$68,803-17.3%

$66,949-15.0%

Participation rate

87.3%

60.0%+27.4pp

69.0%+18.3pp

69.8%+17.5pp

Annual return

-19.52%

-8.29%-11.2pp

-6.37%-13.1pp

1.57%-21.1pp

Employer contribution / active EE

$1,317

$1,776-25.8%

$2,656-50.4%

$2,545-48.2%

Participant deferral / active EE

$3,041

$2,946+3.2%

$3,942-22.8%

$4,239-28.3%

Admin fee / account holder

$235

$578-59.3%

$4,936-95.2%

$594-60.4%

Provider

Service type

Compensation

BANKERS TRUST COMPANY2 years

Filed as: TI-TRUST, INC.

Service code 21 · EIN 20-1171923

Bank Trustee

$25,157

MASSACHUSETTS MUTUAL LIFE INS. CO.7+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$13,656

FUTURE PLAN CONSULTING - FORT WAYNE3 years

Service code 13 · EIN 11-3665754

Contract Administrator

$12,757

WADE STABLES P.C.2 years

Service code 10 · EIN 43-1498457

Accounting

$7,685

ASCENSUS LLC2 years

Filed as: ASCENSUS

Service code 13 · EIN 82-3719843

Contract Administrator

$2,348

ASCENSUS LLC1 year

Filed as: FUTURE PLAN BY ASCENSUS

Service code 13

1102 CHESTNUT HILLS PRKY SUITE 100 · FORT WAYNE, IN 46814

Contract Administrator

$875

ASCENSUS LLC2 years

Filed as: ASCENSUS, LLC

Service code 17 · EIN 82-3719843

Pension Consulting

$783

BANKERS TRUST COMPANY1 year

Filed as: TI TRUST

Service code 21 · EIN 20-1171923

Bank Trustee

$549

ASCENSUS LLC1 year

Filed as: FUTUREPLAN BY ASCENSUS

Service code 13

Contract Administrator

$500

AMERICAN FUNDS5 years

Service code 52 · EIN 94-6050854

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