Retirement plan

MY-CON, INC. PROFIT-SHARING 401K PLAN

Name: MY-CON, INC. - MY-CON, INC. PROFIT-SHARING 401K PLAN (2024) Form 5500
Creator: MY-CON, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MY-CON, INC. PROFIT-SHARING 401K PLAN, MY-CON, INC.

MY-CON, INC.EIN 38-1717344Plan #001PY 2024

3801 PERRY ST - HUDSONVILLE, MI 494269827616-896-9049mycon-contractors.comLinkedIn11-50 employeesconstruction

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$1.9M

+23.5% from 2023

Total participants

+50.0% from 2023

Average account balance

$156,742

No prior year

Annual return

12.84%

-3.72 pp from 2023

Benchmarks

See 54,761 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort54,761 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.88M

Not enough data

1 years with asset history on file

Average account balance

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

$157K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$161K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+12.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$56

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 codes2E2H2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.

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

$677

$56 / participant

Other / not subdivided$677100.0%

% of EOY assets

0.036%

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

$156,742

$110,410+42.0%

$102,437+53.0%

$145,897+7.4%

Participation rate

100.0%

77.9%+22.1pp

74.5%+25.5pp

80.3%+19.7pp

Annual return

12.84%

24.85%-12.0pp

24.95%-12.1pp

552.29%-539.5pp

Employer contribution / active EE

$5,379

$4,217+27.6%

$3,871+39.0%

$4,663+15.4%

Participant deferral / active EE

$8,074

$5,622+43.6%

$5,060+59.6%

$6,689+20.7%

Admin fee / account holder

$56

$9,745-99.4%

$8,388-99.3%

$13,390-99.6%

MY-CON, INC. PROFIT-SHARING 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MY-CON, INC. PROFIT-SHARING 401K 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