Retirement plan

MUNRO & ASSOCIATES, INC. 401(K) PLAN

Name: MUNRO & ASSOCIATES, INC. - MUNRO & ASSOCIATES, INC. 401(K) PLAN (2023) Form 5500
Creator: MUNRO & ASSOCIATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MUNRO & ASSOCIATES, INC. 401(K) PLAN, MUNRO & ASSOCIATES, INC.

MUNRO & ASSOCIATES, INC.EIN 38-2886422Plan #003PY 2023

1140 CENTRE RD. - AUBURN HILLS, MI 48326248-362-5110leandesign.comLinkedIn51-200 employeesmanagement consulting

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$12.3M

+30.5% from 2022

Total participants

109

-20.4% from 2022

Average account balance

$114,034

+58.3% from 2022

Annual return

22.58%

+40.32 pp from 2022

Benchmarks

See 28,703 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,703 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.96M

Not enough data

1 years with asset history on file

Average account balance

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

$108K

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.

120

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.

96.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.74M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$27K

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

+15.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$398

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 2 by compensation

Provider	Service type	Compensation
LPL FINANCIAL1 year Service code 15 · EIN 04-3046611	Recordkeeping	$17,395
ADP BROKER-DEALER1 year Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$9,365

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.

Opportunity flags

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$27K

$418 / participant

Recordkeeping$9K35.0%
Investment mgmt$17K65.0%

% of EOY assets

0.217%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: DKSS
Auditor EIN: 381944367
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$114,034

$93,617+21.8%

$135,982-16.1%

$75,177+51.7%

Participation rate

98.4%

75.2%+23.2pp

81.9%+16.5pp

67.2%+31.2pp

Annual return

22.58%

30.89%-8.3pp

68.32%-45.7pp

160.75%-138.2pp

Employer contribution / active EE

$18,196

$3,538+414.3%

$4,859+274.5%

$2,671+581.2%

Participant deferral / active EE

$10,388

$6,406+62.2%

$7,760+33.9%

$4,126+151.7%

Admin fee / account holder

$248

$6,980-96.4%

$10,767-97.7%

$5,651-95.6%

Provider

Service type

Compensation

LPL FINANCIAL1 year

Service code 15 · EIN 04-3046611

Recordkeeping

$17,395

ADP BROKER-DEALER1 year

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$9,365

MUNRO & ASSOCIATES, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MUNRO & ASSOCIATES, INC. 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