Retirement plan

MAGNUM CONSTRUCTION MANAGEMENT 401(K) PLAN

Name: MAGNUM CONSTRUCTION MANAGEMENT - MAGNUM CONSTRUCTION MANAGEMENT 401(K) PLAN (2024) Form 5500
Creator: MAGNUM CONSTRUCTION MANAGEMENT
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MAGNUM CONSTRUCTION MANAGEMENT 401(K) PLAN, MAGNUM CONSTRUCTION MANAGEMENT

MAGNUM CONSTRUCTION MANAGEMENTEIN 59-2373403Plan #001PY 2024

6201 SW 70TH STREET, FLOOR 1 - SOUTH MIAMI, FL 33143305-541-0000

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$6.1M

+10.7% from 2023

Total participants

145

+13.3% from 2023

Average account balance

$54,671

+7.7% from 2023

Annual return

11.62%

+0.17 pp from 2023

Benchmarks

See 18,526 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,526 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.12M

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.

112

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.

59.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$626K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+11.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$352

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 5 by compensation

Provider	Service type	Compensation
H&CO LLP2 years Service code 15 · EIN 47-2427769	Recordkeeping	$15,000
ADP BROKER-DEALER4 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$13,174
HORNOR TOWNSEND & KENT INC4 years Filed as: HORNOR, TOWNSEND & KENT, LLC Service code 15 · EIN 23-0952300	Recordkeeping	$11,197
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB INVESTMENT MGMT INC. Service code 33 · EIN 94-3106735	Securities brokerage	$1
ADP BROKER-DEALER4 years Service code 59 · EIN 22-3319984	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

2 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.)

Expense breakdown

Schedule H Part II

Admin total

$39K

$486 / participant

Recordkeeping$13K33.5%
Investment mgmt$11K28.4%
Other / not subdivided$15K38.1%

% of EOY assets

0.643%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: H&CO LLP
Auditor EIN: 472427769
Audit fees: $15,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$54,671

$81,504-32.9%

$102,437-46.6%

$80,959-32.5%

Participation rate

59.3%

66.9%-7.6pp

74.5%-15.2pp

67.7%-8.4pp

Annual return

11.62%

25.60%-14.0pp

24.95%-13.3pp

35.67%-24.0pp

Employer contribution / active EE

$2,601

$3,104-16.2%

$3,871-32.8%

$2,757-5.7%

Participant deferral / active EE

$5,124

$3,871+32.4%

$5,060+1.3%

$4,300+19.2%

Admin fee / account holder

$352

$6,719-94.8%

$8,388-95.8%

$6,925-94.9%

Provider

Service type

Compensation

H&CO LLP2 years

Service code 15 · EIN 47-2427769

Recordkeeping

$15,000

ADP BROKER-DEALER4 years

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$13,174

HORNOR TOWNSEND & KENT INC4 years

Filed as: HORNOR, TOWNSEND & KENT, LLC

Service code 15 · EIN 23-0952300

Recordkeeping

$11,197

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB INVESTMENT MGMT INC.

Service code 33 · EIN 94-3106735

Securities brokerage

ADP BROKER-DEALER4 years

Service code 59 · EIN 22-3319984

Shareholder Servicing

MAGNUM CONSTRUCTION MANAGEMENT 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MAGNUM CONSTRUCTION MANAGEMENT 401(K) 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