Retirement plan

MILLER'S, INC. EMPLOYEES' PROFIT SHARING PLAN

Name: MILLER'S, INC. - MILLER'S, INC. EMPLOYEES' PROFIT SHARING PLAN (2023) Form 5500
Creator: MILLER'S, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MILLER'S, INC. EMPLOYEES' PROFIT SHARING PLAN, MILLER'S, INC.

MILLER'S, INC.EIN 48-0646484Plan #001PY 2023

610 E. JEFFERSON STREET - PITTSBURG, KS 66762620-231-8050

Prospect flagsLow returnsLow participant contribution

How to read this page

Total assets (EOY)

$51.9M

+14.8% from 2022

Total participants

482

+3.7% from 2022

Average account balance

$136,520

+8.7% from 2022

Annual return

13.44%

+26.32 pp from 2022

Benchmarks

See 1,153 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort1,153 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$58.40M

Not enough data

1 years with asset history on file

Average account balance

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

$155K

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.

377

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.

78.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.20M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+10.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$68

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 3 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL4 years Service code 37 · EIN 04-2647786	Loan Processing	$48,195
CLEARSAGE ADVISORY GROUP, LLC1 year Service code 16 · EIN 82-1527659	Consulting	$26,250
PRIME CAPITAL INVESTMENT ADVISORS4 years Service code 27 · EIN 82-1364595	Advisory (Plan)	$12,500

Plan features & details

Pension benefit codes2F2G2J2T2E3D

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

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$89K

$215 / participant

Recordkeeping$48K53.9%
Investment mgmt$13K14.0%
Other / not subdivided$29K32.1%

% of EOY assets

0.172%

all-in expense ratio

Categories reported

2 / 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: $2,507
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$136,520

$84,784+61.0%

$98,461+38.7%

$74,460+83.3%

Participation rate

75.5%

81.5%-6.0pp

75.2%+0.4pp

70.7%+4.8pp

Annual return

13.44%

20.59%-7.2pp

21.17%-7.7pp

34.38%-20.9pp

Employer contribution / active EE

$7,168

$3,364+113.1%

$3,049+135.1%

$2,638+171.7%

Participant deferral / active EE

$1,258

$5,218-75.9%

$4,738-73.4%

$4,530-72.2%

Admin fee / account holder

$235

$204+15.1%

$8,961-97.4%

$348-32.3%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL4 years

Service code 37 · EIN 04-2647786

Loan Processing

$48,195

CLEARSAGE ADVISORY GROUP, LLC1 year

Service code 16 · EIN 82-1527659

Consulting

$26,250

PRIME CAPITAL INVESTMENT ADVISORS4 years

Service code 27 · EIN 82-1364595

Advisory (Plan)

$12,500

MILLER'S, INC. EMPLOYEES' PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MILLER'S, INC. EMPLOYEES' 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