Retirement plan

THE MILLS GROUP EMPLOYEE RETIREMENT SAVINGS PLAN

Name: EIP MANUFACTURING, LLC - THE MILLS GROUP EMPLOYEE RETIREMENT SAVINGS PLAN (2020) Form 5500
Creator: EIP MANUFACTURING, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE MILLS GROUP EMPLOYEE RETIREMENT SAVINGS PLAN, EIP MANUFACTURING, LLC

EIP MANUFACTURING, LLCEIN 42-1574355Plan #001PY 2020

2677 221ST STREET - EARLVILLE, IA 52041563-923-7315eipmfg.comLinkedIn1-10 employeesfarming

Prospect flagsHigh feesLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$1.9M

+11.5% from 2019

Total participants

107

-19.5% from 2019

Average account balance

$53,731

+40.2% from 2019

Annual return

11.23%

-7.25 pp from 2019

Benchmarks

See 14,883 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,883 peers

Snapshot2020

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Analytics

Total assets (EOY)

Plan-year ending balance

$1.45M

Not enough data

1 years with asset history on file

Average account balance

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

$21K

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.

44.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$184K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+9.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3772

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
EIDE BAILLY LLP1 year Filed as: EIDE BAILLY Service code 10 PO BOX 1914 · BISMARCK, ND 585021914	Accounting	$18,800
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$6,404
RETIRERIGHT LLC1 year Service code 27 1200 VALLEY WEST DR STE 707 · W DES MOINES, IA 50266	Advisory (Plan)	$4,824
LPL FINANCIAL3 years Service code 27 PO BOX 502533 · SAN DIEGO, CA 921502533	Advisory (Plan)	$1,632
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ADVISED ASSETS GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$28

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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.
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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer 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.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$32K

$368 / participant

Contract admin$32K100.0%

% of EOY assets

1.685%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: EIDE BAILY LLP
Auditor EIN: 450250958
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,731

$78,422-31.5%

$95,952-44.0%

$79,858-32.7%

Participation rate

16.3%

73.5%-57.2pp

77.1%-60.8pp

69.6%-53.4pp

Annual return

11.23%

19.37%-8.1pp

91.61%-80.4pp

31.71%-20.5pp

Employer contribution / active EE

$1,945-100.0%

$2,541-100.0%

$2,471-100.0%

Participant deferral / active EE

$1,692

$3,440-50.8%

$4,167-59.4%

$3,740-54.8%

Admin fee / account holder

$905

$5,622-83.9%

$6,795-86.7%

$5,306-82.9%

Provider

Service type

Compensation

EIDE BAILLY LLP1 year

Filed as: EIDE BAILLY

Service code 10

PO BOX 1914 · BISMARCK, ND 585021914

Accounting

$18,800

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$6,404

RETIRERIGHT LLC1 year

Service code 27

1200 VALLEY WEST DR STE 707 · W DES MOINES, IA 50266

Advisory (Plan)

$4,824

LPL FINANCIAL3 years

Service code 27

PO BOX 502533 · SAN DIEGO, CA 921502533

Advisory (Plan)

$1,632

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ADVISED ASSETS GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$28

THE MILLS GROUP EMPLOYEE RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE MILLS GROUP EMPLOYEE RETIREMENT SAVINGS 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