Retirement plan

MIDREX 401(K) PLAN

Name: MIDREX TECHNOLOGIES, INC. - MIDREX 401(K) PLAN (2015) Form 5500
Creator: MIDREX TECHNOLOGIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDREX 401(K) PLAN, MIDREX TECHNOLOGIES, INC.

MIDREX TECHNOLOGIES, INC.EIN 52-1791274Plan #002PY 2015

2725 WATER RIDGE PARKWAY, SUITE 100 - CHARLOTTE, NC 282174581704-373-1600midrex.comLinkedIn201-500 employeesmechanical or industrial engineering

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed September 20, 2024 (most recent of 2 filings on file)

Plan administrator

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3735 Glen Lake Drive, Suite 400

Charlotte, NC 28208

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Plans declared (1)

Midrex Deferred Compensation Plan30 emp

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Total assets (EOY)

$41.5M

No prior year

Total participants

223

No prior year

Average account balance

$198,677

No prior year

Annual return

-0.85%

No prior year

Benchmarks

See 4,662 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort4,662 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$59.89M

Not enough data

1 years with asset history on file

Average account balance

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

$216K

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.

277

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.

97.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.32M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+13.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$457

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
MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years Filed as: MML INVESTOR SERVICES Service code 27 · EIN 04-2746212	Advisory (Plan)	$111,507
WELLS FARGO BANK, N.A.1+ years Service code 15 · EIN 94-1347393	Recordkeeping	$3,241
WELLS FARGO BANK, N.A.1+ years Filed as: WELLS FARGO BANK Service code 15	Recordkeeping	$1,762

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

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

$188K

$1008 / participant

Other / not subdivided$188K100.0%

% of EOY assets

0.454%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BGW CPA, PLLC
Auditor EIN: 461302809
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$198,677

$70,002+183.8%

$115,037+72.7%

$52,331+279.7%

Participation rate

92.5%

72.1%+20.4pp

81.4%+11.1pp

68.1%+24.4pp

Annual return

-0.85%

4.04%-4.9pp

26.14%-27.0pp

4.54%-5.4pp

Employer contribution / active EE

$5,449

$2,715+100.7%

$4,608+18.3%

$1,882+189.6%

Participant deferral / active EE

$9,693

$4,920+97.0%

$6,026+60.8%

$3,022+220.7%

Admin fee / account holder

$902

$566+59.3%

$8,175-89.0%

$592+52.4%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years

Filed as: MML INVESTOR SERVICES

Service code 27 · EIN 04-2746212

Advisory (Plan)

$111,507

WELLS FARGO BANK, N.A.1+ years

Service code 15 · EIN 94-1347393

Recordkeeping

$3,241

WELLS FARGO BANK, N.A.1+ years

Filed as: WELLS FARGO BANK

Service code 15

Recordkeeping

$1,762

MIDREX 401(K) PLAN

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

MIDREX 401(K) PLAN

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