Retirement plan

METROPOLITAN CORPORATION 401(K) PLAN AND TRUST

Name: METROPOLITAN CORP. - METROPOLITAN CORPORATION 401(K) PLAN AND TRUST (2024) 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 2024

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

Prospect flagsLow employer contribution

How to read this page

Total assets (EOY)

$29.1M

+12.2% from 2023

Total participants

674

+5.0% from 2023

Average account balance

$47,251

+6.5% from 2023

Annual return

12.69%

+1.07 pp from 2023

Benchmarks

See 1,308 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,308 peers

Snapshot2024

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

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
THE OAK RIDGE FINANCIAL SERVICES2 years Service code 27 · EIN 41-1868775	Advisory (Plan)	$66,680
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Service code 37 · EIN 04-2647786	Loan Processing	$51,576

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

1 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$118K

$316 / participant

Recordkeeping$51K43.5%
Investment mgmt$67K56.5%

% of EOY assets

0.406%

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

$47,251

$54,193-12.8%

$93,669-49.6%

$77,714-39.2%

Participation rate

84.5%

63.9%+20.6pp

68.7%+15.8pp

70.6%+13.9pp

Annual return

12.69%

30.54%-17.8pp

133.59%-120.9pp

31.26%-18.6pp

Employer contribution / active EE

$1,168-100.0%

$2,424-100.0%

$2,727-100.0%

Participant deferral / active EE

$4,829

$3,144+53.6%

$4,416+9.4%

$4,649+3.9%

Admin fee / account holder

$192

$576-66.7%

$8,291-97.7%

$433-55.7%

Provider

Service type

Compensation

THE OAK RIDGE FINANCIAL SERVICES2 years

Service code 27 · EIN 41-1868775

Advisory (Plan)

$66,680

FIDELITY INVESTMENTS INSTITUTIONAL10+ years

Service code 37 · EIN 04-2647786

Loan Processing

$51,576

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