Retirement plan

MCLEAN ELECTRIC COMPANY SAFE HARBOR 401(K) PLAN

Name: MCLEAN ELECTRIC COMPANY - MCLEAN ELECTRIC COMPANY SAFE HARBOR 401(K) PLAN (2020) Form 5500
Creator: MCLEAN ELECTRIC COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCLEAN ELECTRIC COMPANY SAFE HARBOR 401(K) PLAN, MCLEAN ELECTRIC COMPANY

MCLEAN ELECTRIC COMPANYEIN 54-1739915Plan #001PY 2020

15920 DONALD CURTIS DRIVE - WOODBRIDGE, VA 22191703-590-7711mcleanelectricco.comLinkedIn11-50 employees

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$782K

+22.9% from 2019

Total participants

+40.0% from 2019

Average account balance

$195,541

+22.9% from 2019

Annual return

17.62%

-1.49 pp from 2019

Benchmarks

See 42,037 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort42,037 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.07M

Not enough data

1 years with asset history on file

Average account balance

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

$268K

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.

80.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$39K

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

+11.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$193

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 codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$844

$141 / participant

Other / not subdivided$844100.0%

% of EOY assets

0.108%

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

$195,541

$115,810+68.8%

$101,271+93.1%

$158,966+23.0%

Participation rate

50.0%

79.4%-29.4pp

75.8%-25.8pp

82.0%-32.0pp

Annual return

17.62%

56.15%-38.5pp

46.48%-28.9pp

302.95%-285.3pp

Employer contribution / active EE

$874

$4,175-79.1%

$3,660-76.1%

$4,762-81.6%

Participant deferral / active EE

$4,709

$4,958-5.0%

$4,371+7.7%

$5,983-21.3%

Admin fee / account holder

$211

$7,248-97.1%

$5,948-96.5%

$11,250-98.1%

MCLEAN ELECTRIC COMPANY SAFE HARBOR 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCLEAN ELECTRIC COMPANY SAFE HARBOR 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