Retirement plan

MIDSTATE EMPLOYEE SAVINGS & RETIREMENT PLAN

Name: MIDSTATE MANUFACTURING COMPANY - MIDSTATE EMPLOYEE SAVINGS & RETIREMENT PLAN (2018) Form 5500
Creator: MIDSTATE MANUFACTURING COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDSTATE EMPLOYEE SAVINGS & RETIREMENT PLAN, MIDSTATE MANUFACTURING COMPANY

MIDSTATE MANUFACTURING COMPANYEIN 37-1082009Plan #001PY 2018

750 WEST THIRD STREET - GALESBURG, IL 61401309-342-9555midstate-mfg.comLinkedIn11-50 employeesmechanical or industrial engineering

Prospect flagsLow participant contributionLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$3.1M

+4.1% from 2017

Total participants

123

-6.1% from 2017

Average account balance

$30,220

+12.2% from 2017

Annual return

-4.75%

-23.39 pp from 2017

Benchmarks

See 4,210 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,210 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.27M

Not enough data

1 years with asset history on file

Average account balance

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

$35K

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.

207

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.

88.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$950K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+12.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$196

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 2 by compensation

Provider	Service type	Compensation
ASCENSUS LLC1 year Service code 15 · EIN 11-3665754	Recordkeeping	$9,826
EDWARD JONES1 year Service code 27 · EIN 43-0345811	Advisory (Plan)	$6,422

Plan features & details

Pension benefit codes2E3D2G2J2K2F2T3F

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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$16K

$145 / participant

Investment mgmt$6K39.5%
Contract admin$10K60.5%

% of EOY assets

0.522%

all-in expense ratio

Categories reported

2 / 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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$30,220

$59,186-48.9%

$76,766-60.6%

$56,287-46.3%

Participation rate

82.1%

75.2%+6.9pp

77.0%+5.2pp

69.9%+12.3pp

Annual return

-4.75%

6.62%-11.4pp

2.43%-7.2pp

-9.96%+5.2pp

Employer contribution / active EE

$1,874

$1,759+6.6%

$2,485-24.6%

$2,111-11.2%

Participant deferral / active EE

$1,338

$3,255-58.9%

$3,851-65.3%

$3,350-60.1%

Admin fee / account holder

$158

$489-67.7%

$6,675-97.6%

$521-69.7%

Provider

Service type

Compensation

ASCENSUS LLC1 year

Service code 15 · EIN 11-3665754

Recordkeeping

$9,826

EDWARD JONES1 year

Service code 27 · EIN 43-0345811

Advisory (Plan)

$6,422

MIDSTATE EMPLOYEE SAVINGS & RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDSTATE EMPLOYEE SAVINGS & RETIREMENT 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