Retirement plan

MGPI PROCESSING, INC. 401(K) & PROFIT SHARING - ATCHISON UNION

Name: MGPI PROCESSING, INC. - MGPI PROCESSING, INC. 401(K) & PROFIT SHARING - ATCHISON UNION (2023) Form 5500
Creator: MGPI PROCESSING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MGPI PROCESSING, INC. 401(K) & PROFIT SHARING - ATCHISON UNION, MGPI PROCESSING, INC.

MGPI PROCESSING, INC.EIN 48-0531200Plan #005PY 2023

1300 MAIN STREET - ATCHISON, KS 66002913-360-5250LinkedIn1-10 employeesfood production

Other plans on this EIN

1 filing

#006Retirement-$51.7M assets

Prospect flagsNo flags tripped

Top hat statement on fileNQDC

Filed October 22, 2018

Plan administrator

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100 Commercial Street

Atchison State: KS Zip Code: 66002

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Plans declared (1)

Plan name not on file6 emp

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Total assets (EOY)

$15.5M

+12.1% from 2022

Total participants

109

-12.8% from 2022

Average account balance

$143,199

+24.6% from 2022

Annual return

19.29%

+40.98 pp from 2022

Benchmarks

See 2,613 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort2,613 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.78M

Not enough data

1 years with asset history on file

Average account balance

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

$151K

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.

96.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.06M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+11.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$104

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
BERTHEL FISHER & CO1 year Service code 27 · EIN 42-1029773	Advisory (Plan)	$13,850
MMA SECURITIES LLC1 year Filed as: MMA SECURITIES Service code 27 · EIN 22-3570392	Advisory (Plan)	$9,901
FIDELITY INVESTMENTS INSTITUTIONAL1 year Service code 37 · EIN 04-2647786	Loan Processing	-$20,474

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$3K

$39 / participant

Investment mgmt$24K724.8%

% of EOY assets

0.021%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS MAZARS, LLP
Auditor EIN: 440160260
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$143,199

$58,099+146.5%

$76,902+86.2%

$75,177+90.5%

Participation rate

98.8%

63.9%+34.9pp

69.6%+29.2pp

67.2%+31.6pp

Annual return

19.29%

26.71%-7.4pp

37.91%-18.6pp

160.75%-141.5pp

Employer contribution / active EE

$7,027

$1,996+252.1%

$2,534+177.3%

$2,671+163.1%

Participant deferral / active EE

$7,766

$2,999+159.0%

$3,833+102.6%

$4,126+88.2%

Admin fee / account holder

$30

$4,778-99.4%

$5,479-99.4%

$5,651-99.5%

Provider

Service type

Compensation

BERTHEL FISHER & CO1 year

Service code 27 · EIN 42-1029773

Advisory (Plan)

$13,850

MMA SECURITIES LLC1 year

Filed as: MMA SECURITIES

Service code 27 · EIN 22-3570392

Advisory (Plan)

$9,901

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Service code 37 · EIN 04-2647786

Loan Processing

-$20,474

MGPI PROCESSING, INC. 401(K) & PROFIT SHARING - ATCHISON UNION

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MGPI PROCESSING, INC. 401(K) & PROFIT SHARING - ATCHISON UNION

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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