Retirement plan

MATECH 401(K) PLAN

Name: MACHINING TECHNOLOGIES, INC. - MATECH 401(K) PLAN (2022) Form 5500
Creator: MACHINING TECHNOLOGIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MATECH 401(K) PLAN, MACHINING TECHNOLOGIES, INC.

MACHINING TECHNOLOGIES, INC.EIN 52-1600709Plan #001PY 2022

510 NAYLOR MILL ROAD - SALISBURY, MD 21801410-548-1627

Prospect flagsLow employer contribution

How to read this page

Total assets (EOY)

$3.1M

-15.1% from 2021

Total participants

115

0.0% from 2021

Average account balance

$33,975

-16.0% from 2021

Annual return

-16.26%

-29.41 pp from 2021

Benchmarks

See 14,494 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,494 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.49M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

89.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$276K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+14.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6786

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

Top 3 by compensation

Provider	Service type	Compensation
ALERUS FINANCIAL, N.A.4 years Filed as: ALERUS FINANCIAL Service code 64 · EIN 45-6062081 15 BROADWAY · FARGO, ND 58102	Recordkeeping Fees	$0
POLLARD & ASSOCIATES, INC.4 years Service code 13 · EIN 52-0909772 ONE NORTH PARK DRIVE · HUNT VALLEY, MA 21030	Contract Administrator	$0
STRATEGIC WEALTH MANAGEMENT4 years Service code 22 · EIN 52-2295943 7300 GRACE DRIVE · COLUMBIA, MD 21044	Insurance Broker	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D3H

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.
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

1 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$22K

$251 / participant

Contract admin$22K100.0%

% of EOY assets

0.729%

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: UHY LLP
Auditor EIN: 200694403
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$33,975

$71,878-52.7%

$86,698-60.8%

$68,486-50.4%

Participation rate

71.9%

72.2%-0.3pp

76.6%-4.7pp

67.9%+4.0pp

Annual return

-16.26%

3.53%-19.8pp

35.95%-52.2pp

-7.85%-8.4pp

Employer contribution / active EE

$481

$2,173-77.9%

$2,837-83.1%

$2,597-81.5%

Participant deferral / active EE

$2,348

$3,779-37.9%

$4,656-49.6%

$4,028-41.7%

Admin fee / account holder

$248

$6,113-95.9%

$7,493-96.7%

$5,404-95.4%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.4 years

Filed as: ALERUS FINANCIAL

Service code 64 · EIN 45-6062081

15 BROADWAY · FARGO, ND 58102

Recordkeeping Fees

POLLARD & ASSOCIATES, INC.4 years

Service code 13 · EIN 52-0909772

ONE NORTH PARK DRIVE · HUNT VALLEY, MA 21030

Contract Administrator

STRATEGIC WEALTH MANAGEMENT4 years

Service code 22 · EIN 52-2295943

7300 GRACE DRIVE · COLUMBIA, MD 21044

Insurance Broker

MATECH 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MATECH 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