Retirement plan

MAGIC CITY BEVERAGE PSP/401(K)

Name: MAGIC CITY BEVERAGE - MAGIC CITY BEVERAGE PSP/401(K) (2024) Form 5500
Creator: MAGIC CITY BEVERAGE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MAGIC CITY BEVERAGE PSP/401(K), MAGIC CITY BEVERAGE

MAGIC CITY BEVERAGEEIN 45-0276711Plan #001PY 2024

PO BOX 908 - MINOT, ND 587020908701-852-4031LinkedIn1-10 employeeswholesale

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$7.9M

-11.0% from 2023

Total participants

-8.6% from 2023

Average account balance

$262,234

+3.9% from 2023

Annual return

15.24%

-3.86 pp from 2023

Benchmarks

See 23,862 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,862 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.87M

Not enough data

1 years with asset history on file

Average account balance

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

$262K

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.

130.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$258K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+15.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$86459

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 codes2E2F2J2T3D

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).
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.
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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$2.6M

$112772 / participant

Other / not subdivided$3M100.0%

% of EOY assets

32.970%

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

$262,234

$166,242+57.7%

$165,071+58.9%

$145,884+79.8%

Participation rate

91.3%

82.0%+9.3pp

78.6%+12.7pp

80.3%+11.0pp

Annual return

15.24%

100.44%-85.2pp

70.17%-54.9pp

551.85%-536.6pp

Employer contribution / active EE

$6,632

$5,283+25.5%

$4,347+52.5%

$4,662+42.2%

Participant deferral / active EE

$4,584

$6,964-34.2%

$6,035-24.0%

$6,690-31.5%

Admin fee / account holder

$86,459

$16,658+419.0%

$12,695+581.0%

$13,392+545.6%

MAGIC CITY BEVERAGE PSP/401(K)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MAGIC CITY BEVERAGE PSP/401(K)

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