Retirement plan

MCELRATH & PARRISH, INC. 401(K) PROFIT SHARING PLAN

Name: MCELRATH & PARRISH, INC. - MCELRATH & PARRISH, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: MCELRATH & PARRISH, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCELRATH & PARRISH, INC. 401(K) PROFIT SHARING PLAN, MCELRATH & PARRISH, INC.

MCELRATH & PARRISH, INC.EIN 57-1078247Plan #001PY 2024

1179 SUNSET BLVD - WEST COLUMBIA, SC 29169803-602-0485LinkedIn11-50 employeesinsurance

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2.2M

+0.6% from 2023

Total participants

-7.1% from 2023

Average account balance

$110,775

+15.6% from 2023

Annual return

10.44%

-6.32 pp from 2023

Benchmarks

See 37,167 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,167 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.22M

Not enough data

1 years with asset history on file

Average account balance

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

$111K

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.

95.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$208K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+10.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$22059

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 codes2E2F2G2J2T3D3F

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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

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

$441K

$21009 / participant

Other / not subdivided$441K100.0%

% of EOY assets

19.914%

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

$110,775

$201,264-45.0%

$184,185-39.9%

$145,978-24.1%

Participation rate

71.4%

87.5%-16.1pp

86.8%-15.4pp

80.3%-8.9pp

Annual return

10.44%

29.00%-18.6pp

28.81%-18.4pp

550.52%-540.1pp

Employer contribution / active EE

$3,439

$7,021-51.0%

$6,426-46.5%

$4,662-26.2%

Participant deferral / active EE

$6,445

$9,806-34.3%

$9,132-29.4%

$6,690-3.6%

Admin fee / account holder

$22,059

$16,376+34.7%

$13,909+58.6%

$13,400+64.6%

MCELRATH & PARRISH, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCELRATH & PARRISH, 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