Retirement plan

MICROBOARDS 401(K) PLAN

Name: MICROBOARDS TECHNOLOGY, LLC - MICROBOARDS 401(K) PLAN (2023) Form 5500
Creator: MICROBOARDS TECHNOLOGY, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICROBOARDS 401(K) PLAN, MICROBOARDS TECHNOLOGY, LLC

MICROBOARDS TECHNOLOGY, LLCEIN 41-1862702Plan #001PY 2023

P.O. BOX 846 - CHANHASSEN, MN 55317952-556-1601microboards.co.ukLinkedIn11-50 employeescomputer hardware

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$5.6M

-5.3% from 2022

Total participants

0.0% from 2022

Average account balance

$234,718

-5.3% from 2022

Annual return

-8.15%

-12.98 pp from 2022

Benchmarks

See 22,651 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,651 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.24M

Not enough data

1 years with asset history on file

Average account balance

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

$315K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$227K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+3.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2463

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 codes2F2G2J2T3B2E3D

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.
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

$30K

$1481 / participant

Other / not subdivided$30K100.0%

% of EOY assets

0.526%

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

$234,718

$110,307+112.8%

$96,576+143.0%

$139,456+68.3%

Participation rate

100.0%

78.1%+21.9pp

76.0%+24.0pp

80.3%+19.7pp

Annual return

-8.15%

26.40%-34.6pp

25.87%-34.0pp

373.45%-381.6pp

Employer contribution / active EE

$996

$3,619-72.5%

$2,965-66.4%

$4,753-79.0%

Participant deferral / active EE

$9,061

$5,547+63.3%

$4,851+86.8%

$6,711+35.0%

Admin fee / account holder

$1,234

$11,597-89.4%

$8,253-85.0%

$11,407-89.2%

MICROBOARDS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICROBOARDS 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