Retirement plan

MARTIN CONCRETE CONSTRUCTION, INC. 401(K) RETIREMENT PLAN

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

MARTIN CONCRETE CONSTRUCTION, INC.EIN 58-1940017Plan #002PY 2022

4040 ROYAL DRIVE, SUITE 800 - KENNESAW, GA 30144770-795-0406martinconcrete.comLinkedIn201-500 employeesconstruction

Prospect flagsLow returnsHigh feesLow participation

How to read this page

Total assets (EOY)

$2M

+24.2% from 2021

Total participants

261

+14.5% from 2021

Average account balance

$34,482

+4.9% from 2021

Annual return

-18.50%

-390.50 pp from 2021

Benchmarks

See 1,393 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,393 peers

Snapshot2022

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Analytics

Total assets (EOY)

Plan-year ending balance

$6.27M

Not enough data

1 years with asset history on file

Average account balance

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

$71K

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.

29.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.23M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+17.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5117

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290	Contract Administrator	$20,553
SBHU LIFE AGENCY INC1 year Service code 49	Other Services	$7,194
S B H U LIFE AGENCY INC1 year Filed as: S B H U LIFE AGENCY Service code 49 · EIN 13-2896238	Other Services	$0
WILSHIRE ASSOCIATES INCORPORATED3+ years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$21K

$82 / participant

Contract admin$21K100.0%

% of EOY assets

1.046%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: SMITH AND HOWARD
Auditor EIN: 581250486
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,482

$106,236-67.5%

$112,228-69.3%

$64,808-46.8%

Participation rate

20.1%

71.7%-51.6pp

75.1%-55.0pp

71.5%-51.4pp

Annual return

-18.50%

-6.02%-12.5pp

27.45%-45.9pp

32.82%-51.3pp

Employer contribution / active EE

$1,038

$3,166-67.2%

$3,635-71.4%

$2,506-58.6%

Participant deferral / active EE

$1,816

$3,785-52.0%

$4,728-61.6%

$4,310-57.9%

Admin fee / account holder

$361

$452-20.1%

$6,410-94.4%

$188+92.1%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$20,553

SBHU LIFE AGENCY INC1 year

Service code 49

Other Services

$7,194

S B H U LIFE AGENCY INC1 year

Filed as: S B H U LIFE AGENCY

Service code 49 · EIN 13-2896238

Other Services

WILSHIRE ASSOCIATES INCORPORATED3+ years

Service code 27 · EIN 95-2755361

Advisory (Plan)

MARTIN CONCRETE CONSTRUCTION, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MARTIN CONCRETE CONSTRUCTION, INC. 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