Retirement plan

SAVINGS PLAN FOR THE EMPLOYEES OF MCGEE CORPORATION

Name: MCGEE CORPORATION - SAVINGS PLAN FOR THE EMPLOYEES OF MCGEE CORPORATION (2022) Form 5500
Creator: MCGEE CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SAVINGS PLAN FOR THE EMPLOYEES OF MCGEE CORPORATION, MCGEE CORPORATION

MCGEE CORPORATIONEIN 56-0505320Plan #001PY 2022

12100 STALLINGS COMMERCE DRIVE - MATTHEWS, NC 28105704-893-3711mcgeecorp.comLinkedIn51-200 employeesarchitecture & planning

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$6.4M

-12.1% from 2021

Total participants

127

+6.7% from 2021

Average account balance

$55,195

-22.7% from 2021

Annual return

-15.57%

-26.86 pp from 2021

Benchmarks

See 4,067 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,067 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.21M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

150

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.

84.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$957K

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

+13.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$182

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
NATIONWIDE3 years Service code 37 · EIN 31-4156830 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Loan Processing	$30,018
CAROLINA WEALTH MANAGEMENT, INC.3 years Filed as: CAROLINA WEALTH MANAGEMENT INC Service code 51 · EIN 86-1092482 1706-A E ARLINGTON BLVD · GREENVILLE, NC 27858	Investment Mgmt Fees	$21,863
TRINITY PENSION GROUP, LLC3 years Service code 13 · EIN 20-0235252 PO BOX 2159 · JAMESTOWN, NC 27282	Contract Administrator	$6,751

Plan features & details

Pension benefit codes2E2F2G2J3D2K2T

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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$45K

$406 / participant

Investment mgmt$45K100.0%

% of EOY assets

0.698%

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: MELISSA G. CRITCHER, CPA, PC
Auditor EIN: 271654932
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$55,195

$65,453-15.7%

$86,698-36.3%

$66,938-17.5%

Participation rate

90.0%

75.5%+14.5pp

76.6%+13.4pp

69.8%+20.2pp

Annual return

-15.57%

-10.89%-4.7pp

35.95%-51.5pp

1.58%-17.1pp

Employer contribution / active EE

$842

$2,154-60.9%

$2,837-70.3%

$2,545-66.9%

Participant deferral / active EE

$3,295

$4,102-19.7%

$4,656-29.2%

$4,238-22.3%

Admin fee / account holder

$385

$642-40.0%

$7,493-94.9%

$594-35.1%

Provider

Service type

Compensation

NATIONWIDE3 years

Service code 37 · EIN 31-4156830

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Loan Processing

$30,018

CAROLINA WEALTH MANAGEMENT, INC.3 years

Filed as: CAROLINA WEALTH MANAGEMENT INC

Service code 51 · EIN 86-1092482

1706-A E ARLINGTON BLVD · GREENVILLE, NC 27858

Investment Mgmt Fees

$21,863

TRINITY PENSION GROUP, LLC3 years

Service code 13 · EIN 20-0235252

PO BOX 2159 · JAMESTOWN, NC 27282

Contract Administrator

$6,751

SAVINGS PLAN FOR THE EMPLOYEES OF MCGEE CORPORATION

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SAVINGS PLAN FOR THE EMPLOYEES OF MCGEE CORPORATION

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