Retirement plan

METROPOLITAN LAUNDRY MACHINERY SAFE HARBOR PLAN

Name: METROPOLITAN LAUNDRY MACHINERY SALES, INC. - METROPOLITAN LAUNDRY MACHINERY SAFE HARBOR PLAN (2024) Form 5500
Creator: METROPOLITAN LAUNDRY MACHINERY SALES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, METROPOLITAN LAUNDRY MACHINERY SAFE HARBOR PLAN, METROPOLITAN LAUNDRY MACHINERY SALES, INC.

METROPOLITAN LAUNDRY MACHINERY SALES, INC.EIN 46-1433913Plan #001PY 2024

127-19 101ST AVENUE - SOUTH RICHMOND HILL, NY 11419718-441-4000LinkedIn11-50 employeesmachinery

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.3M

-9.9% from 2023

Total participants

-11.8% from 2023

Average account balance

$218,208

+2.1% from 2023

Annual return

12.01%

+1.35 pp from 2023

Benchmarks

See 23,845 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,845 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.27M

Not enough data

1 years with asset history on file

Average account balance

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

$218K

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.

136.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$188K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+12.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$66865

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 codes2E2G2J2T3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$1.0M

$91180 / participant

Other / not subdivided$1M100.0%

% of EOY assets

30.643%

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

$218,208

$166,268+31.2%

$165,100+32.2%

$145,897+49.6%

Participation rate

100.0%

82.0%+18.0pp

78.6%+21.4pp

80.3%+19.7pp

Annual return

12.01%

100.52%-88.5pp

70.21%-58.2pp

552.29%-540.3pp

Employer contribution / active EE

$4,659

$5,284-11.8%

$4,348+7.2%

$4,663-0.1%

Participant deferral / active EE

$12,464

$6,964+79.0%

$6,035+106.5%

$6,689+86.3%

Admin fee / account holder

$66,865

$16,659+301.4%

$12,696+426.7%

$13,390+399.4%

METROPOLITAN LAUNDRY MACHINERY SAFE HARBOR PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

METROPOLITAN LAUNDRY MACHINERY SAFE HARBOR 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