Retirement plan

MCLAUGHLIN GORMLEY KING COMPANY PROFIT SHARING AND EMPLOYEE SAVINGS PLAN

Name: MCLAUGHLIN GORMLEY KING COMPANY - MCLAUGHLIN GORMLEY KING COMPANY PROFIT SHARING AND EMPLOYEE SAVINGS PLAN (2017) Form 5500
Creator: MCLAUGHLIN GORMLEY KING COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCLAUGHLIN GORMLEY KING COMPANY PROFIT SHARING AND EMPLOYEE SAVINGS PLAN, MCLAUGHLIN GORMLEY KING COMPANY

MCLAUGHLIN GORMLEY KING COMPANYEIN 41-0403600Plan #001PY 2017

8810 TENTH AVENUE NORTH - MINNEAPOLIS, MN 554274372763-544-0341LinkedIn11-50 employees

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed October 1, 2014

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$28.7M

+19.2% from 2016

Total participants

188

+9.3% from 2016

Average account balance

$160,607

+6.6% from 2016

Annual return

18.99%

+7.49 pp from 2016

Benchmarks

See 1,976 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,976 peers

Snapshot2017

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Analytics

Total assets (EOY)

Plan-year ending balance

$55.18M

Not enough data

1 years with asset history on file

Average account balance

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

$223K

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.

247

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.

99.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.98M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$22K

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

+13.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$436

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
HARRIS3+ years Filed as: HARRIS ASSOCIATES L.P. Service code 28 2 NORTH LASALLE STREET · CHICAGO, IL 60602	Investment Management	$84,913
STATE STREET GLOBAL ADVISORS3+ years Filed as: STATE STREET Service code 28 · EIN 04-1867445	Investment Management	$66,392
KEYSTONE WEALTH ADVISORS INC3+ years Filed as: KEYSTONE WEALTH ADVISORS, INC. Service code 27 33 SOUTH SIXTH STREET · MINNEAPOLIS, MN 55402	Advisory (Plan)	$53,661
FIRST MERCANTILE TRUST COMPANY3+ years Service code 15 57 GERMANTOWN COURT · CORDOVA, TN 38018	Recordkeeping	$45,137
MIDWEST PENSION & PROFIT SHARING SE1 year Service code 13 · EIN 41-1447816 121 S 8TH STREET, SUITE 160 · MINNEAPOLIS, MN 55402	Contract Administrator	$11,372

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

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

$169K

$1050 / participant

Investment mgmt$13K7.9%
Other / not subdivided$156K92.1%

% of EOY assets

0.588%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BOYUM & BARENSCHEER PLLP
Auditor EIN: 416192096
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$160,607

$63,299+153.7%

$91,001+76.5%

$62,292+157.8%

Participation rate

94.4%

73.3%+21.1pp

75.6%+18.8pp

69.5%+24.9pp

Annual return

18.99%

20.99%-2.0pp

4.60%+14.4pp

28.90%-9.9pp

Employer contribution / active EE

$6,606

$1,807+265.6%

$2,456+169.0%

$2,042+223.5%

Participant deferral / active EE

$6,017

$2,943+104.5%

$3,547+69.6%

$3,169+89.9%

Admin fee / account holder

$945

$468+102.0%

$5,417-82.6%

$479+97.1%

Provider

Service type

Compensation

HARRIS3+ years

Filed as: HARRIS ASSOCIATES L.P.

Service code 28

2 NORTH LASALLE STREET · CHICAGO, IL 60602

Investment Management

$84,913

STATE STREET GLOBAL ADVISORS3+ years

Filed as: STATE STREET

Service code 28 · EIN 04-1867445

Investment Management

$66,392

KEYSTONE WEALTH ADVISORS INC3+ years

Filed as: KEYSTONE WEALTH ADVISORS, INC.

Service code 27

33 SOUTH SIXTH STREET · MINNEAPOLIS, MN 55402

Advisory (Plan)

$53,661

FIRST MERCANTILE TRUST COMPANY3+ years

Service code 15

57 GERMANTOWN COURT · CORDOVA, TN 38018

Recordkeeping

$45,137

MIDWEST PENSION & PROFIT SHARING SE1 year

Service code 13 · EIN 41-1447816

121 S 8TH STREET, SUITE 160 · MINNEAPOLIS, MN 55402

Contract Administrator

$11,372

MCLAUGHLIN GORMLEY KING COMPANY PROFIT SHARING AND EMPLOYEE SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCLAUGHLIN GORMLEY KING COMPANY PROFIT SHARING AND EMPLOYEE SAVINGS PLAN

Top hat statement on fileNQDC

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