Retirement plan

MCN TELECOM, LLC 401K PROFIT SHARING PLAN

Name: MCN TELECOM, LLC - MCN TELECOM, LLC 401K PROFIT SHARING PLAN (2022) Form 5500
Creator: MCN TELECOM, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCN TELECOM, LLC 401K PROFIT SHARING PLAN, MCN TELECOM, LLC

MCN TELECOM, LLCEIN 46-4436366Plan #001PY 2022

14 ALDEN AVENUE - NORWALK, CT 06855203-943-3328

Other plans on this EIN

1 filing

#002Retirement-$1.4M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$438K

+7.4% from 2021

Total participants

0.0% from 2021

Average account balance

$87,676

+7.4% from 2021

Annual return

-13.37%

-17.56 pp from 2021

Benchmarks

See 10,386 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants<25

Cohort10,386 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$625K

Not enough data

1 years with asset history on file

Average account balance

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

$156K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$44K

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

+8.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1407

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 codes2E2G2J3D

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.
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

$3K

$1013 / participant

Other / not subdivided$3K100.0%

% of EOY assets

0.693%

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

$87,676

$99,647-12.0%

$86,439+1.4%

$134,509-34.8%

Participation rate

100.0%

82.1%+17.9pp

80.3%+19.7pp

81.2%+18.8pp

Annual return

-13.37%

6784.13%-6797.5pp

4395.55%-4408.9pp

418.13%-431.5pp

Employer contribution / active EE

$24,500

$4,401+456.7%

$3,769+550.1%

$4,741+416.8%

Participant deferral / active EE

$3,735

$7,246-48.5%

$6,952-46.3%

$6,400-41.6%

Admin fee / account holder

$608

$8,373-92.7%

$6,732-91.0%

$11,427-94.7%

MCN TELECOM, LLC 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCN TELECOM, LLC 401K PROFIT SHARING 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