Retirement plan

MARTIN BROTHERS DISTRIBUTING COMPANY, INC. ESOP AND 401(K) PLAN

Name: MARTIN BROTHERS DISTRIBUTING COMPANY, INC. - MARTIN BROTHERS DISTRIBUTING COMPANY, INC. ESOP AND 401(K) PLAN (2020) Form 5500
Creator: MARTIN BROTHERS DISTRIBUTING COMPANY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MARTIN BROTHERS DISTRIBUTING COMPANY, INC. ESOP AND 401(K) PLAN, MARTIN BROTHERS DISTRIBUTING COMPANY, INC.

MARTIN BROTHERS DISTRIBUTING COMPANY, INC.EIN 42-0841720Plan #002PY 2020

P.O. BOX 69, 406 VIKING ROAD - CEDAR FALLS, IA 506130069319-266-1775LinkedIn501-1000 employeesmedical devices

Prospect flagsLow returnsLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$114M

-8.6% from 2019

Total participants

783

+2.4% from 2019

Average account balance

$150,985

-11.5% from 2019

Annual return

6.56%

-18.91 pp from 2019

Benchmarks

See 1,266 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,266 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$118.43M

Not enough data

1 years with asset history on file

Average account balance

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

$168K

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.

707

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.

96.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.40M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+8.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$168

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 3 by compensation

Provider	Service type	Compensation
ACCEL WEALTH MANAGEMENT5 years Service code 27 · EIN 83-0742869 301 OAK RIDGE CIRCLE · WAVERLY, IA 50677	Advisory (Plan)	$90,645
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 711 HIGH STREET · DES MOINES, IA 50392	Contract Administrator	$72,389
US BANK6+ years Service code 18 · EIN 41-0255900 800 NICOLLET MALL · MINNEAPOLIS, MN 554027000	Other fees; Custodial (other than sec...	$18,881

Plan features & details

Pension benefit codes2E2F2H2I2J2K2O2Q2S2T3I

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2I
Stock bonus
Stock bonus plan.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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

3 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$91K

$151 / participant

Contract admin$72K79.3%
Other / not subdivided$19K20.7%

% of EOY assets

0.080%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HOGAN - HANSEN, P.C.
Auditor EIN: 420991212
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$150,985

$78,419+92.5%

$133,971+12.7%

$73,412+105.7%

Participation rate

95.4%

78.6%+16.8pp

79.8%+15.5pp

72.2%+23.2pp

Annual return

6.56%

33.35%-26.8pp

45.09%-38.5pp

59.30%-52.7pp

Employer contribution / active EE

$2,044-100.0%

$3,919-100.0%

$2,234-100.0%

Participant deferral / active EE

$3,046

$3,925-22.4%

$5,047-39.6%

$3,806-20.0%

Admin fee / account holder

$121

$161-25.1%

$8,929-98.6%

$158-23.4%

Provider

Service type

Compensation

ACCEL WEALTH MANAGEMENT5 years

Service code 27 · EIN 83-0742869

301 OAK RIDGE CIRCLE · WAVERLY, IA 50677

Advisory (Plan)

$90,645

PRINCIPAL LIFE INSURANCE COMPANY6+ years

Service code 13 · EIN 42-0127290

711 HIGH STREET · DES MOINES, IA 50392

Contract Administrator

$72,389

US BANK6+ years

Service code 18 · EIN 41-0255900

800 NICOLLET MALL · MINNEAPOLIS, MN 554027000

Other fees; Custodial (other than sec...

$18,881

MARTIN BROTHERS DISTRIBUTING COMPANY, INC. ESOP AND 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MARTIN BROTHERS DISTRIBUTING COMPANY, INC. ESOP AND 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