Retirement plan

MINNESOTA GRINDING, INC. RESTATED EMPLOYEES' PROFIT SHARING TRUST

Name: MINNESOTA GRINDING, INC. - MINNESOTA GRINDING, INC. RESTATED EMPLOYEES' PROFIT SHARING TRUST (2017) 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 2017

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

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.3M

+11.1% from 2016

Total participants

-2.7% from 2016

Average account balance

$41,923

+4.1% from 2016

Annual return

10.57%

+2.38 pp from 2016

Benchmarks

See 14,968 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,968 peers

Snapshot2017

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$83K

$2677 / participant

Other / not subdivided$83K100.0%

% of EOY assets

6.186%

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

$41,923

$67,602-38.0%

$82,312-49.1%

$70,126-40.2%

Participation rate

87.1%

72.8%+14.3pp

76.9%+10.2pp

69.5%+17.6pp

Annual return

10.57%

21.57%-11.0pp

25.88%-15.3pp

73.15%-62.6pp

Employer contribution / active EE

$1,290

$1,755-26.5%

$2,428-46.9%

$2,343-44.9%

Participant deferral / active EE

$1,361

$2,987-54.4%

$3,706-63.3%

$3,332-59.2%

Admin fee / account holder

$2,594

$4,512-42.5%

$5,608-53.8%

$4,645-44.2%

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