Retirement plan

MEYER CONSTRUCTION, INC. 401(K) SAFE HARBOR PLAN

Name: MEYER CONSTRUCTION, INC. - MEYER CONSTRUCTION, INC. 401(K) SAFE HARBOR PLAN (2023) Form 5500
Creator: MEYER CONSTRUCTION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEYER CONSTRUCTION, INC. 401(K) SAFE HARBOR PLAN, MEYER CONSTRUCTION, INC.

MEYER CONSTRUCTION, INC.EIN 39-1871732Plan #001PY 2023

1781 VIKING AVE. - SUMNER, IA 50674563-578-5985meyerconstructioninc.comLinkedIn1-10 employeesconstruction

Prospect flagsLow participationHigh assets / participant

How to read this page

Total assets (EOY)

$2M

+32.6% from 2022

Total participants

0.0% from 2022

Average account balance

$404,464

+32.6% from 2022

Annual return

30.17%

+56.77 pp from 2022

Benchmarks

See 51,572 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort51,572 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-2.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

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

$404,464

$106,247+280.7%

$96,515+319.1%

$139,466+190.0%

Participation rate

57.1%

77.8%-20.7pp

74.3%-17.2pp

80.3%-23.2pp

Annual return

30.17%

38.47%-8.3pp

35.73%-5.6pp

373.66%-343.5pp

Employer contribution / active EE

$809

$4,106-80.3%

$3,740-78.4%

$4,754-83.0%

Participant deferral / active EE

$4,569

$5,456-16.3%

$4,880-6.4%

$6,712-31.9%

Admin fee / account holder

$7,885-100.0%

$6,735-100.0%

$11,409-100.0%

MEYER CONSTRUCTION, INC. 401(K) SAFE HARBOR PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

MEYER CONSTRUCTION, INC. 401(K) SAFE HARBOR PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion