Retirement plan

MASON TECHNOLOGIES INC. UNION 401 (K) PLAN

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

MASON TECHNOLOGIES INC.EIN 38-3665918Plan #002PY 2023

517 COMMACK ROAD - DEER PARK, NY 117293803631-234-6565mason247.comLinkedIn201-500 employeesinformation technology and services

Other plans on this EIN

1 filing

#001Retirement-$640K assets

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$2.9M

+148.7% from 2022

Total participants

141

-2.1% from 2022

Average account balance

$43,186

+92.1% from 2022

Annual return

72.22%

+90.70 pp from 2022

Benchmarks

See 6,231 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,231 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.11M

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

47.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$927K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+15.47%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1867

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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$10K

$74 / participant

Other / not subdivided$10K100.0%

% of EOY assets

0.345%

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

$43,186

$91,439-52.8%

$135,974-68.2%

$71,511-39.6%

Participation rate

43.2%

75.7%-32.5pp

81.9%-38.7pp

67.9%-24.8pp

Annual return

72.22%

29.90%+42.3pp

68.30%+3.9pp

28.86%+43.4pp

Employer contribution / active EE

$2,994

$3,705-19.2%

$4,859-38.4%

$2,589+15.6%

Participant deferral / active EE

$3,644

$7,093-48.6%

$7,760-53.0%

$4,291-15.1%

Admin fee / account holder

$149

$1,267-88.2%

$10,767-98.6%

$1,588-90.6%

MASON TECHNOLOGIES INC. UNION 401 (K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MASON TECHNOLOGIES INC. UNION 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