Retirement plan

MID-STATE CHEVROLET 401(K) RETIREMENT PLAN

Name: MID-STATE AUTOMOTIVE, INC - MID-STATE CHEVROLET 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: MID-STATE AUTOMOTIVE, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MID-STATE CHEVROLET 401(K) RETIREMENT PLAN, MID-STATE AUTOMOTIVE, INC

MID-STATE AUTOMOTIVE, INCEIN 55-0518633Plan #001PY 2022

26 DAYS DR - SUTTON, WV 266016252304-765-3988LinkedIn51-200 employeesautomotive

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.7M

-10.7% from 2021

Total participants

105

-8.7% from 2021

Average account balance

$47,027

-5.1% from 2021

Annual return

-17.50%

-28.96 pp from 2021

Benchmarks

See 9,445 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort9,445 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.11M

Not enough data

1 years with asset history on file

Average account balance

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

$66K

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.

82.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$516K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+10.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7332

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

Top 3 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH2 years Filed as: MERRILL LYNCH - EPS Service code 26 · EIN 13-5674085	Advisory (Participants)	$5,264
JOHN HANCOCK LIFE INSURANCE COMPANY3 years Service code 15 · EIN 01-0233346	Recordkeeping	$1,424
MERRILL LYNCH PIERCE FENNER & SMITH3 years Filed as: MERRILL LYNCH - FAS Service code 26 · EIN 13-5674085	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$33K

$347 / participant

Contract admin$33K100.0%

% of EOY assets

0.878%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LONG & ASSOCIATES
Auditor EIN: 352009629
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$47,027

$59,813-21.4%

$79,580-40.9%

$68,486-31.3%

Participation rate

72.3%

61.1%+11.3pp

69.5%+2.9pp

67.9%+4.4pp

Annual return

-17.50%

-12.30%-5.2pp

0.15%-17.7pp

-7.85%-9.6pp

Employer contribution / active EE

$1,680

$1,505+11.6%

$2,413-30.4%

$2,597-35.3%

Participant deferral / active EE

$4,031

$3,024+33.3%

$3,985+1.1%

$4,028+0.1%

Admin fee / account holder

$413

$4,835-91.5%

$6,835-94.0%

$5,404-92.4%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH2 years

Filed as: MERRILL LYNCH - EPS

Service code 26 · EIN 13-5674085

Advisory (Participants)

$5,264

JOHN HANCOCK LIFE INSURANCE COMPANY3 years

Service code 15 · EIN 01-0233346

Recordkeeping

$1,424

MERRILL LYNCH PIERCE FENNER & SMITH3 years

Filed as: MERRILL LYNCH - FAS

Service code 26 · EIN 13-5674085

Advisory (Participants)

MID-STATE CHEVROLET 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MID-STATE CHEVROLET 401(K) RETIREMENT 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