Retirement plan

MIDWEST TIMBER, INC. PROFIT SHARING PLAN

Name: MIDWEST TIMBER, INC. - MIDWEST TIMBER, INC. PROFIT SHARING PLAN (2023) Form 5500
Creator: MIDWEST TIMBER, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDWEST TIMBER, INC. PROFIT SHARING PLAN, MIDWEST TIMBER, INC.

MIDWEST TIMBER, INC.EIN 38-2913710Plan #002PY 2023

69875 KRAUS ROAD, P O BOX 599 - EDWARDSBURG, MI 49112269-663-3255midwesttimber.comLinkedIn1-10 employeesbuilding materials

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.9M

+67.6% from 2022

Total participants

-14.3% from 2022

Average account balance

$45,709

+91.6% from 2022

Annual return

18.46%

+29.07 pp from 2022

Benchmarks

See 9,210 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,210 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.68M

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.

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.

120.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$678K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+13.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4357

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 codes2E2F2G2T3D

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.
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

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

$21K

$572 / participant

Other / not subdivided$21K100.0%

% of EOY assets

1.103%

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

$45,709

$91,536-50.1%

$130,062-64.9%

$75,177-39.2%

Participation rate

100.0%

71.5%+28.5pp

78.5%+21.5pp

67.2%+32.8pp

Annual return

18.46%

-631.62%+650.1pp

-137.37%+155.8pp

160.75%-142.3pp

Employer contribution / active EE

$15,775

$2,845+454.5%

$4,322+265.0%

$2,671+490.6%

Participant deferral / active EE

$4,343-100.0%

$5,821-100.0%

$4,126-100.0%

Admin fee / account holder

$504

$6,780-92.6%

$10,601-95.2%

$5,651-91.1%

MIDWEST TIMBER, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDWEST TIMBER, 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