Retirement plan

MSB/BWS 401(K) PLAN

Name: MIKE SCHAAP BUILDERS, INC. - MSB/BWS 401(K) PLAN (2024) Form 5500
Creator: MIKE SCHAAP BUILDERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MSB/BWS 401(K) PLAN, MIKE SCHAAP BUILDERS, INC.

MIKE SCHAAP BUILDERS, INC.EIN 38-2853965Plan #001PY 2024

12969 GREENLY ST - HOLLAND, MI 494247283616-399-9925mikeschaapbuilders.comLinkedIn11-50 employeesconstruction

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$7.3M

+16.9% from 2023

Total participants

115

-8.0% from 2023

Average account balance

$63,814

+24.1% from 2023

Annual return

13.28%

-3.11 pp from 2023

Benchmarks

See 18,536 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,536 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.27M

Not enough data

1 years with asset history on file

Average account balance

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

$64K

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.

114

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.

99.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$749K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+13.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$104

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY2 years Service code 13 · EIN 42-0127290	Contract Administrator	$11,886
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MML INSURANCE AGENCY LLC Service code 49 · EIN 04-3109325	Other Services	$9,047
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MML INVESTORS SERVICES LLC Service code 49 · EIN 04-2746212	Other Services	$8,003

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$12K

$123 / participant

Contract admin$12K100.0%

% of EOY assets

0.163%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: DELONG & BROWER PC
Auditor EIN: 382831981
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$63,814

$81,476-21.7%

$102,383-37.7%

$80,925-21.1%

Participation rate

99.0%

66.8%+32.1pp

74.5%+24.5pp

67.7%+31.3pp

Annual return

13.28%

25.59%-12.3pp

24.94%-11.7pp

35.65%-22.4pp

Employer contribution / active EE

$2,397

$3,105-22.8%

$3,870-38.1%

$2,756-13.1%

Participant deferral / active EE

$5,326

$3,871+37.6%

$5,060+5.3%

$4,299+23.9%

Admin fee / account holder

$104

$6,717-98.4%

$8,391-98.8%

$6,940-98.5%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY2 years

Service code 13 · EIN 42-0127290

Contract Administrator

$11,886

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MML INSURANCE AGENCY LLC

Service code 49 · EIN 04-3109325

Other Services

$9,047

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MML INVESTORS SERVICES LLC

Service code 49 · EIN 04-2746212

Other Services

$8,003

MSB/BWS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MSB/BWS 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