Retirement plan

NAN MCKAY AND ASSOCIATES, INC. 401(K) PROFIT SHARING PLAN

Name: NAN MCKAY AND ASSOCIATES, INC. - NAN MCKAY AND ASSOCIATES, INC. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: NAN MCKAY AND ASSOCIATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NAN MCKAY AND ASSOCIATES, INC. 401(K) PROFIT SHARING PLAN, NAN MCKAY AND ASSOCIATES, INC.

NAN MCKAY AND ASSOCIATES, INC.EIN 41-1381008Plan #002PY 2022

1810 GILLESPIE WAY, STE. 202 - EL CAJON, CA 92020619-258-1855casterline.netLinkedIn11-50 employeesprogram development

Prospect flagsLow participationLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$17.7M

+0.7% from 2021

Total participants

1,246

+15.7% from 2021

Average account balance

$42,036

+9.1% from 2021

Annual return

-13.61%

-25.56 pp from 2021

Benchmarks

See 181 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants1,000-4,999

Cohort181 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$27.01M

Not enough data

1 years with asset history on file

Average account balance

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

$60K

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.

451

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.

54.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.15M

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

+14.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$316

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

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY2 years Filed as: JOHN HANCOCK Service code 15 · EIN 01-0233346	Recordkeeping	$90,722

Plan features & details

Pension benefit codes2E2G2J2A2F3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$91K

$80 / participant

Contract admin$91K100.0%

% of EOY assets

0.514%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LEE CPA AUDIT GROUP
Auditor EIN: 814637885
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,036

$87,621-52.0%

$86,451-51.4%

$77,906-46.0%

Participation rate

26.8%

85.8%-58.9pp

80.3%-53.5pp

73.7%-46.9pp

Annual return

-13.61%

-13.90%+0.3pp

4398.51%-4412.1pp

12.16%-25.8pp

Employer contribution / active EE

$2,214

$3,474-36.3%

$3,770-41.3%

$2,846-22.2%

Participant deferral / active EE

$953

$8,645-89.0%

$6,953-86.3%

$4,805-80.2%

Admin fee / account holder

$216

$85+155.2%

$6,734-96.8%

$133+62.9%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY2 years

Filed as: JOHN HANCOCK

Service code 15 · EIN 01-0233346

Recordkeeping

$90,722

NAN MCKAY AND ASSOCIATES, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NAN MCKAY AND ASSOCIATES, INC. 401(K) PROFIT SHARING 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