Retirement plan

MORGAN-MCCLURE CHEVROLET PROFIT SHARING/401(K) PENSION PLAN

Name: MORGAN MCCLURE CHEVROLET, INC. - MORGAN-MCCLURE CHEVROLET PROFIT SHARING/401(K) PENSION PLAN (2024) Form 5500
Creator: MORGAN MCCLURE CHEVROLET, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MORGAN-MCCLURE CHEVROLET PROFIT SHARING/401(K) PENSION PLAN, MORGAN MCCLURE CHEVROLET, INC.

MORGAN MCCLURE CHEVROLET, INC.EIN 54-1145540Plan #001PY 2024

P.O. BOX 1696 - COEBURN, VA 24230276-395-3333LinkedIn51-200 employeesretail

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$6.9M

+5.1% from 2023

Total participants

+10.0% from 2023

Average account balance

$78,920

-4.5% from 2023

Annual return

7.49%

-2.65 pp from 2023

Benchmarks

See 9,342 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort9,342 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.94M

Not enough data

1 years with asset history on file

Average account balance

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

$79K

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.

149.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$599K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+7.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8806

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 codes2E2F2G2J2T3D3H

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$775K

$13134 / participant

Other / not subdivided$775K100.0%

% of EOY assets

11.158%

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

$78,920

$71,208+10.8%

$93,681-15.8%

$80,911-2.5%

Participation rate

100.0%

60.4%+39.6pp

68.7%+31.3pp

67.6%+32.4pp

Annual return

7.49%

11.27%-3.8pp

133.47%-126.0pp

35.63%-28.1pp

Employer contribution / active EE

$6,795

$1,564+334.3%

$2,422+180.5%

$2,756+146.6%

Participant deferral / active EE

$3,359

$4,035-16.8%

$4,415-23.9%

$4,297-21.8%

Admin fee / account holder

$8,806

$6,951+26.7%

$8,290+6.2%

$6,935+27.0%

MORGAN-MCCLURE CHEVROLET PROFIT SHARING/401(K) PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MORGAN-MCCLURE CHEVROLET PROFIT SHARING/401(K) PENSION 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