Retirement plan

MID-AMERICAN GROUP 401(K) PLAN

Name: MID-AMERICAN GUNITE, INC. - MID-AMERICAN GROUP 401(K) PLAN (2024) Form 5500
Creator: MID-AMERICAN GUNITE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MID-AMERICAN GROUP 401(K) PLAN, MID-AMERICAN GUNITE, INC.

MID-AMERICAN GUNITE, INC.EIN 38-2482769Plan #001PY 2024

8475 PORT SUNLIGHT RD - NEWPORT, MI 48166734-586-8868LinkedIn11-50 employeesconstruction

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$2M

-12.4% from 2023

Total participants

+17.6% from 2023

Average account balance

$38,003

-15.7% from 2023

Annual return

9.69%

-24.53 pp from 2023

Benchmarks

See 18,562 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,562 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.01M

Not enough data

1 years with asset history on file

Average account balance

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

$38K

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.

120.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$638K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+9.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$22095

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 codes2E2F2G2J3D3B3H

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

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

$1.2M

$26614 / participant

Other / not subdivided$1M100.0%

% of EOY assets

58.139%

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

$38,003

$81,457-53.3%

$103,378-63.2%

$80,911-53.0%

Participation rate

84.1%

66.8%+17.2pp

74.5%+9.6pp

67.6%+16.4pp

Annual return

9.69%

25.58%-15.9pp

24.91%-15.2pp

35.63%-25.9pp

Employer contribution / active EE

$4,864

$3,107+56.5%

$3,870+25.7%

$2,756+76.5%

Participant deferral / active EE

$9,644

$3,871+149.1%

$5,058+90.7%

$4,297+124.4%

Admin fee / account holder

$22,095

$6,717+229.0%

$8,401+163.0%

$6,935+218.6%

MID-AMERICAN GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MID-AMERICAN GROUP 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