Retirement plan

PARAMOUNT MECHANICAL CORPORATION 401(K) PLAN

Name: PARAMOUNT MECHANICAL CORPORATION - PARAMOUNT MECHANICAL CORPORATION 401(K) PLAN (2024) Form 5500
Creator: PARAMOUNT MECHANICAL CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PARAMOUNT MECHANICAL CORPORATION 401(K) PLAN, PARAMOUNT MECHANICAL CORPORATION

PARAMOUNT MECHANICAL CORPORATIONEIN 54-1518325Plan #002PY 2024

7053 GATEWAY CT - MANASSAS, VA 20109703-369-1750paramount-mech.comLinkedIn51-200 employeesconstruction

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$3.4M

-23.2% from 2023

Total participants

+22.0% from 2023

Average account balance

$48,929

-36.6% from 2023

Annual return

9.49%

-6.35 pp from 2023

Benchmarks

See 18,526 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,526 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.38M

Not enough data

1 years with asset history on file

Average account balance

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

$49K

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.

191.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$586K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+9.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$29604

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 codes2E2F2G2J3D2T3B

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

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

$2.0M

$56740 / participant

Other / not subdivided$2M100.0%

% of EOY assets

60.503%

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

$48,929

$81,504-40.0%

$102,437-52.2%

$80,959-39.6%

Participation rate

91.7%

66.9%+24.8pp

74.5%+17.2pp

67.7%+24.0pp

Annual return

9.49%

25.60%-16.1pp

24.95%-15.5pp

35.67%-26.2pp

Employer contribution / active EE

$7,658

$3,104+146.8%

$3,871+97.9%

$2,757+177.8%

Participant deferral / active EE

$8,608

$3,871+122.4%

$5,060+70.1%

$4,300+100.2%

Admin fee / account holder

$29,604

$6,719+340.6%

$8,388+252.9%

$6,925+327.5%

PARAMOUNT MECHANICAL CORPORATION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PARAMOUNT MECHANICAL CORPORATION 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