Retirement plan

MORRIS LUMBER AND MILLWORK, INC. 401K PROFIT SHARING PLAN

Name: MORRIS LUMBER AND MILLWORK, INC. - MORRIS LUMBER AND MILLWORK, INC. 401K PROFIT SHARING PLAN (2020) Form 5500
Creator: MORRIS LUMBER AND MILLWORK, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MORRIS LUMBER AND MILLWORK, INC. 401K PROFIT SHARING PLAN, MORRIS LUMBER AND MILLWORK, INC.

MORRIS LUMBER AND MILLWORK, INC.EIN 41-1930621Plan #001PY 2020

49110 STATE HIGHWAY 28 - MORRIS, MN 56267320-589-2331morrislbr.doitbest.comLinkedIn11-50 employees

Prospect flagsLow returnsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$517K

+4.7% from 2019

Total participants

+7.1% from 2019

Average account balance

$36,931

-2.8% from 2019

Annual return

3.19%

-11.81 pp from 2019

Benchmarks

See 18,871 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort18,871 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$554K

Not enough data

1 years with asset history on file

Average account balance

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

$79K

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

$43K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+18.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$280

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 codes2E2F2G2J3D

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.
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 participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$32K

$2633 / participant

Other / not subdivided$32K100.0%

% of EOY assets

6.110%

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

$36,931

$112,935-67.3%

$90,970-59.4%

$158,966-76.8%

Participation rate

91.7%

74.7%+16.9pp

69.0%+22.7pp

82.0%+9.7pp

Annual return

3.19%

215.79%-212.6pp

134.58%-131.4pp

302.95%-299.8pp

Employer contribution / active EE

$2,500

$2,895-13.6%

$2,122+17.8%

$4,762-47.5%

Participant deferral / active EE

$744

$4,129-82.0%

$3,373-77.9%

$5,983-87.6%

Admin fee / account holder

$2,256

$8,045-72.0%

$5,960-62.1%

$11,250-79.9%

MORRIS LUMBER AND MILLWORK, INC. 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MORRIS LUMBER AND MILLWORK, INC. 401K 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