Retirement plan

MINNESOTA AG GROUP, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Name: MINNESOTA AG GROUP, INC. - MINNESOTA AG GROUP, INC. EMPLOYEE STOCK OWNERSHIP PLAN (2023) Form 5500
Creator: MINNESOTA AG GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MINNESOTA AG GROUP, INC. EMPLOYEE STOCK OWNERSHIP PLAN, MINNESOTA AG GROUP, INC.

MINNESOTA AG GROUP, INC.EIN 41-1851738Plan #002PY 2023

32907 NORTHFIELD BOULEVARD - NORTHFIELD, MN 55057507-534-3195mnaggroup.comLinkedIn1-10 employeesbusiness supplies and equipment

Other plans on this EIN

1 filing

#001Retirement-$11.4M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$18.6M

+45.9% from 2022

Total participants

101

+5.2% from 2022

Average account balance

$202,564

+41.1% from 2022

Annual return

43.04%

-59.83 pp from 2022

Benchmarks

See 2,339 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants25-99

Cohort2,339 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$18.78M

Not enough data

1 years with asset history on file

Average account balance

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

$194K

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.

90.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$851K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

-1.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6525

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 codes2I2P2Q3H3I

Plan features

2I
Stock bonus
Stock bonus plan.
2P
Leveraged ESOP
Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$443K

$5096 / participant

Other / not subdivided$443K100.0%

% of EOY assets

2.379%

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

$202,564

$61,605+228.8%

$112,273+80.4%

$75,173+169.5%

Participation rate

89.7%

61.7%+28.0pp

72.4%+17.2pp

67.2%+22.5pp

Annual return

43.04%

28.47%+14.6pp

30.23%+12.8pp

160.72%-117.7pp

Employer contribution / active EE

$7,484

$2,015+271.3%

$3,431+118.1%

$2,671+180.2%

Participant deferral / active EE

$3,108-100.0%

$4,800-100.0%

$4,126-100.0%

Admin fee / account holder

$4,819

$4,862-0.9%

$7,752-37.8%

$5,651-14.7%

MINNESOTA AG GROUP, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MINNESOTA AG GROUP, INC. EMPLOYEE STOCK OWNERSHIP 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