Retirement plan

METROPOLITAN CORPORATION 401(K) PLAN AND TRUST

Name: METROPOLITAN CORP. - METROPOLITAN CORPORATION 401(K) PLAN AND TRUST (2023) Form 5500
Creator: METROPOLITAN CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, METROPOLITAN CORPORATION 401(K) PLAN AND TRUST, METROPOLITAN CORP.

METROPOLITAN CORP.EIN 41-1832140Plan #002PY 2023

4350 BAKER RD., SUITE 230 - MINNETONKA, MN 55343952-893-1277

Prospect flagsLow returnsLow employer contribution

How to read this page

Total assets (EOY)

$25.9M

+10.8% from 2022

Total participants

642

+6.6% from 2022

Average account balance

$44,353

+6.4% from 2022

Annual return

11.62%

+26.63 pp from 2022

Benchmarks

See 1,316 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,316 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$29.11M

Not enough data

1 years with asset history on file

Average account balance

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

$47K

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.

616

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.

84.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.81M

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

+12.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$192

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 2 by compensation

Provider	Service type	Compensation
THE OAK RIDGE FINANCIAL SERVICES1 year Service code 27 · EIN 41-1868775	Advisory (Plan)	$39,368
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$36,353

Plan features & details

Pension benefit codes3H2F2G2J2T3D2R

Plan features

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.
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

2 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$76K

$200 / participant

Recordkeeping$30K40.2%
Investment mgmt$39K52.0%
Other / not subdivided$6K7.8%

% of EOY assets

0.292%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BOMBERG HANSON & ASSOCIATES
Auditor EIN: 203294646
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$44,353

$53,165-16.6%

$86,216-48.6%

$74,460-40.4%

Participation rate

84.9%

64.9%+20.1pp

69.0%+16.0pp

70.7%+14.2pp

Annual return

11.62%

22.64%-11.0pp

1169.42%-1157.8pp

34.38%-22.8pp

Employer contribution / active EE

$1,210-100.0%

$2,382-100.0%

$2,638-100.0%

Participant deferral / active EE

$4,643

$3,234+43.5%

$3,986+16.5%

$4,530+2.5%

Admin fee / account holder

$129

$551-76.5%

$6,853-98.1%

$348-62.8%

Provider

Service type

Compensation

THE OAK RIDGE FINANCIAL SERVICES1 year

Service code 27 · EIN 41-1868775

Advisory (Plan)

$39,368

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$36,353

METROPOLITAN CORPORATION 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

METROPOLITAN CORPORATION 401(K) PLAN AND 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