Retirement plan

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

Name: MY-CON, INC. - MY-CON, INC. PROFIT-SHARING 401K PLAN (2022) 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 2022

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.2M

-15.1% from 2021

Total participants

+7.7% from 2021

Average account balance

$88,081

-21.1% from 2021

Annual return

-19.61%

-32.13 pp from 2021

Benchmarks

See 48,278 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort48,278 peers

Snapshot2022

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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$333K

$23762 / participant

Other / not subdivided$333K100.0%

% of EOY assets

26.978%

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

$88,081

$133,981-34.3%

$112,249-21.5%

$134,532-34.5%

Participation rate

100.0%

78.6%+21.4pp

75.1%+24.9pp

81.2%+18.8pp

Annual return

-19.61%

47.16%-66.8pp

27.48%-47.1pp

418.27%-437.9pp

Employer contribution / active EE

$4,041

$4,0400%

$3,636+11.1%

$4,741-14.8%

Participant deferral / active EE

$4,074

$5,292-23.0%

$4,729-13.9%

$6,401-36.4%

Admin fee / account holder

$23,762

$7,492+217.2%

$6,412+270.6%

$11,429+107.9%

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