Retirement plan

R.E. MICHEL COMPANY, LLC 401(K) PROFIT SHARING AND SAVINGS PLAN

Name: R.E. MICHEL COMPANY, LLC - R.E. MICHEL COMPANY, LLC 401(K) PROFIT SHARING AND SAVINGS PLAN (2024) Form 5500
Creator: R.E. MICHEL COMPANY, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, R.E. MICHEL COMPANY, LLC 401(K) PROFIT SHARING AND SAVINGS PLAN, R.E. MICHEL COMPANY, LLC

R.E. MICHEL COMPANY, LLCEIN 52-0577320Plan #002PY 2024

ONE R.E. MICHEL DRIVE - GLEN BURNIE, MD 21060410-553-3854remichel.comLinkedIn1001-5000 employeeswholesale

Prospect flagsLow returnsLow assets / participantLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$92.8M

+13.2% from 2023

Total participants

2,452

-0.8% from 2023

Average account balance

$39,911

+12.4% from 2023

Annual return

12.56%

-3.39 pp from 2023

Benchmarks

See 331 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants1,000-4,999

Cohort331 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$92.83M

Not enough data

1 years with asset history on file

Average account balance

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

$40K

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.

2,326

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.

93.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$8.57M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+12.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$148

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 5 by compensation

Provider	Service type	Compensation
ADP BROKER-DEALER5 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$225,185
HARBOR5 years Filed as: HARBOR INVESTMENT ADVISORY, LLC Service code 15 · EIN 90-0497525	Recordkeeping	$60,041
CHARLES SCHWAB & CO., INC.2 years Filed as: CHARLES SCHWAB & CO, INC. Service code 33 · EIN 94-1737782	Securities brokerage; Shareholder ser...	$52
ADP BROKER-DEALER5 years Service code 49 · EIN 22-3319984	Other Services	$0
CHARLES SCHWAB & CO., INC.1 year Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3D

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.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

4 tripped

OpportunityLow employer contribution
Employer 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.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$345K

$173 / participant

Recordkeeping$212K61.3%
Investment mgmt$134K38.7%

% of EOY assets

0.372%

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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$39,911

$2,703,213-98.5%

$165,100-75.8%

$200,096-80.1%

Participation rate

93.7%

78.4%+15.2pp

78.6%+15.1pp

72.0%+21.7pp

Annual return

12.56%

17.97%-5.4pp

70.21%-57.7pp

34.26%-21.7pp

Employer contribution / active EE

$813

$2,973-72.7%

$4,348-81.3%

$3,038-73.2%

Participant deferral / active EE

$3,486

$5,021-30.6%

$6,035-42.2%

$5,090-31.5%

Admin fee / account holder

$148

$1,999-92.6%

$12,696-98.8%

$269-44.9%

Provider

Service type

Compensation

ADP BROKER-DEALER5 years

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$225,185

HARBOR5 years

Filed as: HARBOR INVESTMENT ADVISORY, LLC

Service code 15 · EIN 90-0497525

Recordkeeping

$60,041

CHARLES SCHWAB & CO., INC.2 years

Filed as: CHARLES SCHWAB & CO, INC.

Service code 33 · EIN 94-1737782

Securities brokerage; Shareholder ser...

$52

ADP BROKER-DEALER5 years

Service code 49 · EIN 22-3319984

Other Services

CHARLES SCHWAB & CO., INC.1 year

Service code 59

Shareholder Servicing

R.E. MICHEL COMPANY, LLC 401(K) PROFIT SHARING AND SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

R.E. MICHEL COMPANY, LLC 401(K) PROFIT SHARING AND SAVINGS 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