Retirement plan

MANATTS, INC. AND AFFILIATED COMPANIES 401(K) RETIREMENT PLAN

Name: MANATTS, INC. - MANATTS, INC. AND AFFILIATED COMPANIES 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: MANATTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MANATTS, INC. AND AFFILIATED COMPANIES 401(K) RETIREMENT PLAN, MANATTS, INC.

MANATTS, INC.EIN 42-1377409Plan #001PY 2022

P.O. BOX 535 - BROOKLYN, IA 52211641-522-9206

Prospect flagsLow returnsFailed to provide benefitCorrective distributions

Top hat statement on fileNQDC

Filed December 9, 2024

Plan administrator

Plan administrator name— Sign in and upgrade to view

PO Box 535

Brooklyn, IA 52211

Email— Sign in and upgrade to view Phone— Sign in and upgrade to view

Plans declared (1)

The MFB Deferred Compensation Plan75 emp

Open the filing PDF

How to read this page

Total assets (EOY)

$95.2M

-16.8% from 2021

Total participants

1,844

+2.3% from 2021

Average account balance

$52,325

-18.5% from 2021

Annual return

-17.89%

-33.12 pp from 2021

Benchmarks

See 502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort502 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$130.68M

Not enough data

1 years with asset history on file

Average account balance

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

$63K

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.

2,088

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.

89.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9.95M

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

+15.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$60

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
FIDELITY INVESTMENTS INSTITUTIONAL8+ years Service code 60 · EIN 04-2647786	Sub-TA Fees	$64,483
GALLAGHER FIDUCIARY ADVISORS, LLC8+ years Filed as: GALLAGHER BENEFIT SERVICES, INC Service code 16 · EIN 36-4291971	Consulting	$31,500
STRATEGIC ADVISORS, INC.2 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$8,096

Plan features & details

Pension benefit codes2J2K3H2G2E3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.
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

3 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$109K

$79 / participant

Investment mgmt$8K7.5%
Other / not subdivided$100K92.5%

% of EOY assets

0.114%

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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,325

$76,774-31.8%

$112,249-53.4%

$77,906-32.8%

Participation rate

98.2%

80.2%+18.0pp

75.1%+23.1pp

73.7%+24.5pp

Annual return

-17.89%

-10.25%-7.6pp

27.48%-45.4pp

12.16%-30.0pp

Employer contribution / active EE

$2,643

$3,977-33.5%

$3,636-27.3%

$2,846-7.1%

Participant deferral / active EE

$3,589

$3,778-5.0%

$4,729-24.1%

$4,805-25.3%

Admin fee / account holder

$60

$239-75.0%

$6,412-99.1%

$133-55.0%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL8+ years

Service code 60 · EIN 04-2647786

Sub-TA Fees

$64,483

GALLAGHER FIDUCIARY ADVISORS, LLC8+ years

Filed as: GALLAGHER BENEFIT SERVICES, INC

Service code 16 · EIN 36-4291971

Consulting

$31,500

STRATEGIC ADVISORS, INC.2 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$8,096

MANATTS, INC. AND AFFILIATED COMPANIES 401(K) RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MANATTS, INC. AND AFFILIATED COMPANIES 401(K) RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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