Retirement plan

MINDBANK CONSULTING GROUP, L.L.C. 401(K) PROFIT SHARING PLAN

Name: MINDBANK CONSULTING GROUP, L.L.C. - MINDBANK CONSULTING GROUP, L.L.C. 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: MINDBANK CONSULTING GROUP, L.L.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MINDBANK CONSULTING GROUP, L.L.C. 401(K) PROFIT SHARING PLAN, MINDBANK CONSULTING GROUP, L.L.C.

MINDBANK CONSULTING GROUP, L.L.C.EIN 54-1852142Plan #001PY 2020

10780 PARKRIDGE BOULEVARD SUITE 150 - RESTON, VA 20191703-287-0520mindbank.comLinkedIn51-200 employeesinformation technology and services

Prospect flagsLow returnsHigh feesLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$7.5M

+7.0% from 2019

Total participants

107

-4.5% from 2019

Average account balance

$72,431

+12.2% from 2019

Annual return

10.92%

-11.87 pp from 2019

Benchmarks

See 26,422 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort26,422 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.48M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

115

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.

97.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$384K

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

+10.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$377

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

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY3 years Filed as: MORGAN STANLEY Service code 27 1300 THAMES ST WHARF 4TH FL · BALTIMORE, MD 21231	Advisory (Plan)	$19,943
COHNREZNICK LLP5 years Service code 10 · EIN 22-1478099 1301 AVENUE OF THE AMERICAS · NEW YORK, NY 10036	Accounting	$19,100
JPMORGAN INVEST HOLDINGS LLC3 years Service code 64 · EIN 13-2624428	Recordkeeping Fees	$135

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3B

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

4 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$39K

$1451 / participant

Contract admin$39K100.0%

% of EOY assets

0.520%

all-in expense ratio

Categories reported

1 / 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: COHNREZNICK
Auditor EIN: 221478099
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$72,431

$98,766-26.7%

$149,730-51.6%

$79,852-9.3%

Participation rate

88.9%

75.8%+13.1pp

82.5%+6.4pp

69.6%+19.3pp

Annual return

10.92%

27.43%-16.5pp

276.70%-265.8pp

31.72%-20.8pp

Employer contribution / active EE

$65

$3,217-98.0%

$4,645-98.6%

$2,471-97.4%

Participant deferral / active EE

$6,161

$5,681+8.5%

$6,843-10.0%

$3,740+64.7%

Admin fee / account holder

$377

$6,052-93.8%

$9,310-96.0%

$5,306-92.9%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY3 years

Filed as: MORGAN STANLEY

Service code 27

1300 THAMES ST WHARF 4TH FL · BALTIMORE, MD 21231

Advisory (Plan)

$19,943

COHNREZNICK LLP5 years

Service code 10 · EIN 22-1478099

1301 AVENUE OF THE AMERICAS · NEW YORK, NY 10036

Accounting

$19,100

JPMORGAN INVEST HOLDINGS LLC3 years

Service code 64 · EIN 13-2624428

Recordkeeping Fees

$135

MINDBANK CONSULTING GROUP, L.L.C. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MINDBANK CONSULTING GROUP, L.L.C. 401(K) PROFIT SHARING 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