Retirement plan

MCGILL ASSOCIATES, PA PROFIT SHARING PLAN AND TRUST

Name: MCGILL ASSOCIATES, PA - MCGILL ASSOCIATES, PA PROFIT SHARING PLAN AND TRUST (2016) Form 5500
Creator: MCGILL ASSOCIATES, PA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCGILL ASSOCIATES, PA PROFIT SHARING PLAN AND TRUST, MCGILL ASSOCIATES, PA

MCGILL ASSOCIATES, PAEIN 56-1396980Plan #001PY 2016

55 BROAD STREET - ASHEVILLE, NC 28801828-232-6142LinkedIn1-10 employeesaccounting

Prospect flagsHigh feesLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$9.8M

+6.1% from 2015

Total participants

125

+21.4% from 2015

Average account balance

$94,950

+3.0% from 2015

Annual return

9.75%

+10.53 pp from 2015

Benchmarks

See 650 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Cohort650 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.68M

Not enough data

1 years with asset history on file

Average account balance

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

$99K

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.

209

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.

81.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.58M

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

+14.15%

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY2+ years Filed as: MORGAN STANLEY GLOBAL Service code 27 · EIN 56-1396980	Advisory (Plan)	$48,026
NEWPORT GROUP, INC.1 year Service code 12 · EIN 27-2037969	Direct payment from the plan; Recordk...	$20,191
NEWPORT GROUP, INC.1 year Filed as: NEWPORT TRUST COMPANY Service code 12 · EIN 27-4411131	Account maintenance fees; Claims proc...	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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.)

Expense breakdown

Schedule H Part II

Admin total

$63K

$633 / participant

Investment mgmt$48K76.6%
Contract admin$15K23.4%

% of EOY assets

0.641%

all-in expense ratio

Categories reported

2 / 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: H. DEAN KENT, CPA
Auditor EIN: 460494393
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$94,950

$225,135-57.8%

$123,894-23.4%

Participation rate

77.8%

69.5%+8.3pp

81.4%-3.6pp

Annual return

9.75%

8.01%+1.7pp

47.52%-37.8pp

Employer contribution / active EE

$1,944

$2,580-24.7%

$4,617-57.9%

Participant deferral / active EE

$3,930

$4,315-8.9%

$5,984-34.3%

Admin fee / account holder

$609

$19,833-96.9%

$8,357-92.7%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY2+ years

Filed as: MORGAN STANLEY GLOBAL

Service code 27 · EIN 56-1396980

Advisory (Plan)

$48,026

NEWPORT GROUP, INC.1 year

Service code 12 · EIN 27-2037969

Direct payment from the plan; Recordk...

$20,191

NEWPORT GROUP, INC.1 year

Filed as: NEWPORT TRUST COMPANY

Service code 12 · EIN 27-4411131

Account maintenance fees; Claims proc...

MCGILL ASSOCIATES, PA PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCGILL ASSOCIATES, PA PROFIT SHARING PLAN AND TRUST

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