Retirement plan

THE MASSEY COMPANIES 401(K) PROFIT SHARING PLAN

Name: MASSEY CONSTRUCTION, INC. - THE MASSEY COMPANIES 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: MASSEY CONSTRUCTION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE MASSEY COMPANIES 401(K) PROFIT SHARING PLAN, MASSEY CONSTRUCTION, INC.

MASSEY CONSTRUCTION, INC.EIN 62-0803203Plan #001PY 2023

3204 REGAL DRIVE - ALCOA, TN 377013233865-573-4200masseyconstruction.netLinkedIn201-500 employeesconstruction

Prospect flagsLow returnsCorrective distributions

How to read this page

Total assets (EOY)

$17.7M

+15.7% from 2022

Total participants

444

+14.4% from 2022

Average account balance

$41,229

+1.2% from 2022

Annual return

10.85%

+20.53 pp from 2022

Benchmarks

See 1,502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,502 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$21.69M

Not enough data

1 years with asset history on file

Average account balance

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

$50K

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.

436

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.

94.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.74M

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

+12.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$255

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 4 by compensation

Provider	Service type	Compensation
HOME FEDERAL BANK OF TENNESSEE8+ years Service code 21 · EIN 62-1230706	Bank Trustee	$31,727
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$24,370
TENNESSEE PENSION ADMINISTRATORS8+ years Service code 13 · EIN 62-1757444	Contract Administrator	$14,277
PUGH & COMPANY, PC4 years Filed as: PUGH & COMPANY, P.C. Service code 10 · EIN 62-1142155	Accounting	$12,000

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

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$78K

$287 / participant

Contract admin$66K84.7%
Other / not subdivided$12K15.3%

% of EOY assets

0.442%

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: PUGH & COMPANY, PC
Auditor EIN: 621142155
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$41,229

$93,010-55.7%

$96,538-57.3%

$74,473-44.6%

Participation rate

94.9%

71.6%+23.3pp

74.3%+20.5pp

70.7%+24.1pp

Annual return

10.85%

37.50%-26.7pp

35.74%-24.9pp

34.36%-23.5pp

Employer contribution / active EE

$1,217

$3,427-64.5%

$3,740-67.5%

$2,638-53.9%

Participant deferral / active EE

$4,237

$3,971+6.7%

$4,880-13.2%

$4,530-6.5%

Admin fee / account holder

$182

$633-71.2%

$6,737-97.3%

$347-47.5%

Provider

Service type

Compensation

HOME FEDERAL BANK OF TENNESSEE8+ years

Service code 21 · EIN 62-1230706

Bank Trustee

$31,727

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$24,370

TENNESSEE PENSION ADMINISTRATORS8+ years

Service code 13 · EIN 62-1757444

Contract Administrator

$14,277

PUGH & COMPANY, PC4 years

Filed as: PUGH & COMPANY, P.C.

Service code 10 · EIN 62-1142155

Accounting

$12,000

THE MASSEY COMPANIES 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE MASSEY COMPANIES 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