Retirement plan

MIDLAND EQUIPMENT COMPANY OF MICHIGAN, INC. PROFIT SHARING PLAN

Name: MIDLAND EQUIPMENT COMPANY OF MICHIGAN, INC. - MIDLAND EQUIPMENT COMPANY OF MICHIGAN, INC. PROFIT SHARING PLAN (2017) Form 5500
Creator: MIDLAND EQUIPMENT COMPANY OF MICHIGAN, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDLAND EQUIPMENT COMPANY OF MICHIGAN, INC. PROFIT SHARING PLAN, MIDLAND EQUIPMENT COMPANY OF MICHIGAN, INC.

MIDLAND EQUIPMENT COMPANY OF MICHIGAN, INC.EIN 38-1807844Plan #002PY 2017

21610 MEYERS ROAD - OAK PARK, MI 48237248-548-5800

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$4.6M

+10.4% from 2016

Total participants

+3.2% from 2016

Average account balance

$142,640

+6.9% from 2016

Annual return

11.17%

+4.99 pp from 2016

Benchmarks

See 9,327 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,327 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.05M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

124

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.

129.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$890K

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

+13.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1922

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 codes2E2F2G2J3D

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$289K

$11103 / participant

Other / not subdivided$289K100.0%

% of EOY assets

6.324%

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

$142,640

$78,707+81.2%

$117,861+21.0%

$70,126+103.4%

Participation rate

100.0%

73.2%+26.8pp

79.7%+20.3pp

69.5%+30.5pp

Annual return

11.17%

23.30%-12.1pp

335.11%-323.9pp

73.15%-62.0pp

Employer contribution / active EE

$5,705

$2,223+156.6%

$3,786+50.7%

$2,343+143.5%

Participant deferral / active EE

$4,050

$3,297+22.8%

$4,482-9.6%

$3,332+21.6%

Admin fee / account holder

$9,021

$5,066+78.1%

$8,021+12.5%

$4,645+94.2%

MIDLAND EQUIPMENT COMPANY OF MICHIGAN, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDLAND EQUIPMENT COMPANY OF MICHIGAN, INC. 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