Retirement plan

MINNESOTA GRINDING, INC. RESTATED EMPLOYEES' PROFIT SHARING TRUST

Name: MINNESOTA GRINDING, INC. - MINNESOTA GRINDING, INC. RESTATED EMPLOYEES' PROFIT SHARING TRUST (2024) Form 5500
Creator: MINNESOTA GRINDING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MINNESOTA GRINDING, INC. RESTATED EMPLOYEES' PROFIT SHARING TRUST, MINNESOTA GRINDING, INC.

MINNESOTA GRINDING, INC.EIN 41-0945980Plan #001PY 2024

5400 DOUGLAS DRIVE N. - CRYSTAL, MN 55429763-535-4445minnesotagrinding.comLinkedIn11-50 employeesmachinery

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$2.3M

+13.8% from 2023

Total participants

-2.6% from 2023

Average account balance

$61,901

+10.7% from 2023

Annual return

16.45%

+11.03 pp from 2023

Benchmarks

See 14,159 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,159 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.29M

Not enough data

1 years with asset history on file

Average account balance

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

$62K

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.

148.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$132K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+16.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5348

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 codes2E2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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 participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$198K

$7915 / participant

Other / not subdivided$198K100.0%

% of EOY assets

8.639%

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

$61,901

$86,940-28.8%

$102,434-39.6%

$80,935-23.5%

Participation rate

100.0%

72.4%+27.6pp

76.5%+23.5pp

67.7%+32.3pp

Annual return

16.45%

18.89%-2.4pp

29.46%-13.0pp

35.66%-19.2pp

Employer contribution / active EE

$4,000

$2,370+68.8%

$3,023+32.3%

$2,757+45.1%

Participant deferral / active EE

$1,289

$4,121-68.7%

$5,055-74.5%

$4,299-70.0%

Admin fee / account holder

$5,348

$8,047-33.5%

$9,462-43.5%

$6,924-22.8%

MINNESOTA GRINDING, INC. RESTATED EMPLOYEES' PROFIT SHARING TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MINNESOTA GRINDING, INC. RESTATED EMPLOYEES' PROFIT SHARING TRUST

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