Retirement plan

M.G.A. PROFIT SHARING 401(K) PLAN

Name: MACOMB GERLACH AGENCY - M.G.A. PROFIT SHARING 401(K) PLAN (2022) Form 5500
Creator: MACOMB GERLACH AGENCY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, M.G.A. PROFIT SHARING 401(K) PLAN, MACOMB GERLACH AGENCY

MACOMB GERLACH AGENCYEIN 38-1845355Plan #001PY 2022

P.O. BOX 451, 273 CASS AVE. - MT. CLEMENS, MI 48046586-465-6171LinkedIn11-50 employeesinsurance

Prospect flagsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$1.2M

-3.5% from 2021

Total participants

-12.5% from 2021

Average account balance

$90,372

-3.5% from 2021

Annual return

-9.32%

-15.89 pp from 2021

Benchmarks

See 35,209 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort35,209 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.50M

Not enough data

1 years with asset history on file

Average account balance

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

$137K

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

$101K

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

+8.00%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4525

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

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$28K

$2014 / participant

Other / not subdivided$28K100.0%

% of EOY assets

2.400%

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

$90,372

$167,522-46.1%

$151,639-40.4%

$134,532-32.8%

Participation rate

92.9%

88.4%+4.5pp

87.5%+5.4pp

81.2%+11.6pp

Annual return

-9.32%

7.81%-17.1pp

3.34%-12.7pp

418.27%-427.6pp

Employer contribution / active EE

$1,194

$6,828-82.5%

$6,165-80.6%

$4,741-74.8%

Participant deferral / active EE

$5,260

$8,986-41.5%

$8,363-37.1%

$6,401-17.8%

Admin fee / account holder

$2,169

$13,780-84.3%

$11,613-81.3%

$11,429-81.0%

M.G.A. PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

M.G.A. PROFIT SHARING 401(K) 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