Retirement plan

MELCHERT HUBERT SJODIN PLLP PROFIT SHARING 401(K) PLAN

Name: MELCHERT HUBERT SJODIN PLLP - MELCHERT HUBERT SJODIN PLLP PROFIT SHARING 401(K) PLAN (2024) Form 5500
Creator: MELCHERT HUBERT SJODIN PLLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MELCHERT HUBERT SJODIN PLLP PROFIT SHARING 401(K) PLAN, MELCHERT HUBERT SJODIN PLLP

MELCHERT HUBERT SJODIN PLLPEIN 41-0948555Plan #001PY 2024

121 W MAIN ST STE 200 - WACONIA, MN 55387952-442-7700mhslaw.comLinkedIn11-50 employeeslaw practice

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$9.3M

+11.5% from 2023

Total participants

-8.6% from 2023

Average account balance

$179,791

+22.2% from 2023

Annual return

10.85%

-2.75 pp from 2023

Benchmarks

See 28,860 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,860 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.35M

Not enough data

1 years with asset history on file

Average account balance

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

$180K

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$415K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+10.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6986

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 codes2F2G2T3D2E2J2R3B

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

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.

Expense breakdown

Schedule H Part II

Admin total

$363K

$9315 / participant

Other / not subdivided$363K100.0%

% of EOY assets

3.886%

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

$179,791

$102,385+75.6%

$147,080+22.2%

$80,935+122.1%

Participation rate

97.4%

75.9%+21.6pp

82.2%+15.3pp

67.7%+29.8pp

Annual return

10.85%

135.09%-124.2pp

420.17%-409.3pp

35.66%-24.8pp

Employer contribution / active EE

$3,171

$3,717-14.7%

$4,933-35.7%

$2,757+15.0%

Participant deferral / active EE

$7,466

$6,651+12.2%

$8,066-7.4%

$4,299+73.6%

Admin fee / account holder

$6,986

$7,951-12.1%

$12,989-46.2%

$6,924+0.9%

MELCHERT HUBERT SJODIN PLLP PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MELCHERT HUBERT SJODIN PLLP PROFIT SHARING 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