Retirement plan

MIDWEST GOODS, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Name: MIDWEST GOODS, INC. - MIDWEST GOODS, INC. 401(K) PROFIT SHARING PLAN AND TRUST (2020) Form 5500
Creator: MIDWEST GOODS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDWEST GOODS, INC. 401(K) PROFIT SHARING PLAN AND TRUST, MIDWEST GOODS, INC.

MIDWEST GOODS, INC.EIN 46-3996386Plan #001PY 2020

1001 FOSTER AVE - BENSENVILLE, IL 60106630-666-1325midwestfoods.comLinkedIn201-500 employeesfood & beverages

Prospect flagsLow participationLow assets / participantLow participant contributionLow fidelity bond

How to read this page

Total assets (EOY)

$113K

+44.5% from 2019

Total participants

136

-17.6% from 2019

Average account balance

$4,335

+61.2% from 2019

Annual return

14.24%

-203.49 pp from 2019

Benchmarks

See 2,271 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,271 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.53M

Not enough data

1 years with asset history on file

Average account balance

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

$17K

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.

45.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$465K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+13.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$49

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 1 by compensation

Provider	Service type	Compensation
ADP BROKER-DEALER1 year Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$172

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$173

$1 / participant

Other / not subdivided$173100.0%

% of EOY assets

0.154%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: JAMES M. MOYNA
Auditor EIN: 472940358
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$4,335

$81,474-94.7%

$133,959-96.8%

$73,493-94.1%

Participation rate

10.6%

76.4%-65.8pp

79.8%-69.3pp

70.7%-60.1pp

Annual return

14.24%

19.40%-5.2pp

45.09%-30.9pp

28.51%-14.3pp

Employer contribution / active EE

$2,209-100.0%

$3,919-100.0%

$2,270-100.0%

Participant deferral / active EE

$349

$3,786-90.8%

$5,047-93.1%

$3,740-90.7%

Admin fee / account holder

$713-99.1%

$8,928-99.9%

$513-98.7%

Provider

Service type

Compensation

ADP BROKER-DEALER1 year

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$172

MIDWEST GOODS, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDWEST GOODS, INC. 401(K) PROFIT SHARING PLAN AND TRUST

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