Retirement plan

MADISON INDUSTRIAL SOLUTIONS 401(K) PLAN

Name: MADISON INDUSTRIAL SOLUTIONS CORPORATION - MADISON INDUSTRIAL SOLUTIONS 401(K) PLAN (2024) Form 5500
Creator: MADISON INDUSTRIAL SOLUTIONS CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MADISON INDUSTRIAL SOLUTIONS 401(K) PLAN, MADISON INDUSTRIAL SOLUTIONS CORPORATION

MADISON INDUSTRIAL SOLUTIONS CORPORATIONEIN 47-2282126Plan #001PY 2024

444 WEST LAKE DRIVE, SUITE 4400 - CHICAGO, IL 60606312-858-9031

Prospect flagsLow returnsHigh feesLow participation

How to read this page

Total assets (EOY)

$8.7M

+5.7% from 2023

Total participants

169

-10.1% from 2023

Average account balance

$67,682

+16.4% from 2023

Annual return

10.99%

+48.43 pp from 2023

Benchmarks

See 4,099 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,099 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.73M

Not enough data

1 years with asset history on file

Average account balance

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

$68K

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.

129

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.

69.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$877K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+10.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

$599

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 6 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH6 years Service code 27 1400 AMERICAN BLVD BLDG #4 · PENNINGTON, NJ 08534	Advisory (Plan)	$27,210
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$22,317
HANCOCK ASKEW & CO., LLP1 year Service code 10 100 RIVERVIEW DRIVE · SAVANNAH, GA 31404	Accounting	$18,000
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$6,573
JACKSON LEWIS P.C.1 year Filed as: JACKSON LEWIS PC Service code 29 1133 WESTCHESTER AVE, STE S125 · WEST HARRISON, NY 10604	Legal	$2,158
BAKER TILLY US, LLP8 years Filed as: BAKER TILLY VIRCHOW KRAUSE, LLP Service code 10 2599 WILMINGTON RD · NEW CASTLE, PA 16105	Accounting	$1,000

Plan features & details

Pension benefit codes2F2G2J2K2T3D3H

Plan features

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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$77K

$581 / participant

Recordkeeping$22K28.9%
Investment mgmt$34K43.7%
Legal$2K2.8%
Other / not subdivided$19K24.6%

% of EOY assets

0.885%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: $19,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$67,682

$79,223-14.6%

$102,460-33.9%

$74,478-9.1%

Participation rate

69.9%

74.8%-4.8pp

76.5%-6.6pp

67.2%+2.7pp

Annual return

10.99%

54.98%-44.0pp

29.47%-18.5pp

1370.56%-1359.6pp

Employer contribution / active EE

$1,597

$2,363-32.4%

$3,025-47.2%

$2,626-39.2%

Participant deferral / active EE

$4,999

$4,417+13.2%

$5,056-1.1%

$4,350+14.9%

Admin fee / account holder

$599

$2,003-70.1%

$9,460-93.7%

$1,946-69.2%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH6 years

Service code 27

1400 AMERICAN BLVD BLDG #4 · PENNINGTON, NJ 08534

Advisory (Plan)

$27,210

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$22,317

HANCOCK ASKEW & CO., LLP1 year

Service code 10

100 RIVERVIEW DRIVE · SAVANNAH, GA 31404

Accounting

$18,000

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$6,573

JACKSON LEWIS P.C.1 year

Filed as: JACKSON LEWIS PC

Service code 29

1133 WESTCHESTER AVE, STE S125 · WEST HARRISON, NY 10604

Legal

$2,158

BAKER TILLY US, LLP8 years

Filed as: BAKER TILLY VIRCHOW KRAUSE, LLP

Service code 10

2599 WILMINGTON RD · NEW CASTLE, PA 16105

Accounting

$1,000

MADISON INDUSTRIAL SOLUTIONS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MADISON INDUSTRIAL SOLUTIONS 401(K) 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