Retirement plan

MIDWEST ELECTRONIC SPECIALTIES CASH BALANCE PENSION PLAN

Name: MIDWEST ELECTRONIC SPECIALTIES, INC. - MIDWEST ELECTRONIC SPECIALTIES CASH BALANCE PENSION PLAN (2021) Form 5500
Creator: MIDWEST ELECTRONIC SPECIALTIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDWEST ELECTRONIC SPECIALTIES CASH BALANCE PENSION PLAN, MIDWEST ELECTRONIC SPECIALTIES, INC.

MIDWEST ELECTRONIC SPECIALTIES, INC.EIN 37-1264105Plan #003PY 2021

601 N. MAIN ST - ELLSWORTH, IL 61737309-724-8395LinkedIn11-50 employeeselectrical/electronic manufacturing

Other plans on this EIN

1 filing

#001Retirement-$7.9M assets

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$3.3M

+39.0% from 2020

Total participants

-4.2% from 2020

Average account balance

No prior year

Annual return

9.59%

-0.03 pp from 2020

Benchmarks

See 78 peers

Peer group

Industry71 - Arts, Entertainment, and Recreation

Plan typeDefined benefit

Participants25-99

Cohort78 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.96M

Not enough data

1 years with asset history on file

Average account balance

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

$74K

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

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$520K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+13.63%

Not enough data

1 years with return on file

Admin fee / account holder

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

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.

Enrolled actuary

1 attachment

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

Plan features & details

Pension benefit codes1B1C3D

Plan features

1B
Benefits are primarily flat dollar
Benefits are primarily a flat dollar amount (including a dollar amount per year of service).
1C
Cash balance or similar plan
A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
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

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

$20K

$478 / participant

Other / not subdivided$20K100.0%

% of EOY assets

0.607%

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

$95,044-100.0%

$439,512-100.0%

$95,044-100.0%

Participation rate

0.0%

0.0%0pp

26.8%-26.8pp

8.4%-8.4pp

Annual return

9.59%

13.03%-3.4pp

9.07%+0.5pp

18.35%-8.8pp

Employer contribution / active EE

$16,667

$14,235+17.1%

$46,116-63.9%

$14,669+13.6%

Participant deferral / active EE

$73-100.0%

$107-100.0%

$70-100.0%

Admin fee / account holder

$9,141-100.0%

$147,323-100.0%

$9,141-100.0%

MIDWEST ELECTRONIC SPECIALTIES CASH BALANCE PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDWEST ELECTRONIC SPECIALTIES CASH BALANCE PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

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