Retirement plan

MINGHINI'S GENERAL CONTRACTORS, INC. 401(K) PROFIT SHARING PLAN

Name: MINGHINI'S GENERAL CONTRACTORS, INC. - MINGHINI'S GENERAL CONTRACTORS, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: MINGHINI'S GENERAL CONTRACTORS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MINGHINI'S GENERAL CONTRACTORS, INC. 401(K) PROFIT SHARING PLAN, MINGHINI'S GENERAL CONTRACTORS, INC.

MINGHINI'S GENERAL CONTRACTORS, INC.EIN 55-0679581Plan #001PY 2024

51 TRUMPET LANE - MARTINSBURG, WV 25404304-263-9988minghinis.comLinkedIn11-50 employeesconstruction

Prospect flagsHigh feesHigh assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$3.3M

+4.9% from 2023

Total participants

+8.3% from 2023

Average account balance

$296,237

+14.4% from 2023

Annual return

19.68%

+5.69 pp from 2023

Benchmarks

See 54,852 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort54,852 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.63M

Not enough data

1 years with asset history on file

Average account balance

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

$330K

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.

90.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$100K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+10.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6270

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 codes2E2F2T2G3D

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.
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

3 tripped

OpportunityLow participant contribution
Participant 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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$561K

$62331 / participant

Other / not subdivided$561K100.0%

% of EOY assets

17.215%

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

$296,237

$110,337+168.5%

$102,383+189.3%

$145,877+103.1%

Participation rate

77.8%

77.9%-0.2pp

74.5%+3.3pp

80.3%-2.5pp

Annual return

19.68%

24.83%-5.1pp

24.94%-5.3pp

551.28%-531.6pp

Employer contribution / active EE

$11,111

$4,216+163.5%

$3,870+187.1%

$4,663+138.3%

Participant deferral / active EE

$5,621-100.0%

$5,060-100.0%

$6,691-100.0%

Admin fee / account holder

$50,998

$9,750+423.1%

$8,391+507.7%

$13,402+280.5%

MINGHINI'S GENERAL CONTRACTORS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MINGHINI'S GENERAL CONTRACTORS, INC. 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