Retirement plan

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MID-ATLANTIC ELECTRICAL CONTRACTING, INC

Name: MID-ATLANTIC ELECTRICAL CONTRA - 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MID-ATLANTIC ELECTRICAL CONTRACTING, INC (2023) Form 5500
Creator: MID-ATLANTIC ELECTRICAL CONTRA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MID-ATLANTIC ELECTRICAL CONTRACTING, INC, MID-ATLANTIC ELECTRICAL CONTRA

MID-ATLANTIC ELECTRICAL CONTRAEIN 52-1005203Plan #001PY 2023

12440 OWINGS MILLS BLVD - REISTERSTOWN, MD 211361732410-526-9252maecontracting.comLinkedIn1-10 employeesconstruction

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.4M

+26.6% from 2022

Total participants

0.0% from 2022

Average account balance

$115,002

+26.6% from 2022

Annual return

21.44%

+43.68 pp from 2022

Benchmarks

See 51,594 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort51,594 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.81M

Not enough data

1 years with asset history on file

Average account balance

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

$139K

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.

130.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$76K

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

+12.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7019

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 codes2G3D2F

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.
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

$7K

$921 / participant

Other / not subdivided$7K100.0%

% of EOY assets

0.534%

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

$115,002

$106,267+8.2%

$96,520+19.1%

$139,456-17.5%

Participation rate

100.0%

77.8%+22.2pp

74.3%+25.7pp

80.3%+19.7pp

Annual return

21.44%

38.45%-17.0pp

35.72%-14.3pp

373.45%-352.0pp

Employer contribution / active EE

$1,577

$4,105-61.6%

$3,739-57.8%

$4,753-66.8%

Participant deferral / active EE

$6,309

$5,454+15.7%

$4,879+29.3%

$6,711-6.0%

Admin fee / account holder

$614

$7,882-92.2%

$6,733-90.9%

$11,407-94.6%

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MID-ATLANTIC ELECTRICAL CONTRACTING, INC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MID-ATLANTIC ELECTRICAL CONTRACTING, INC

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