Retirement plan

MILVETS SYSTEMS TECHNOLOGY, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Name: MILVETS SYSTEMS TECHNOLOGY, INC. - MILVETS SYSTEMS TECHNOLOGY, INC. 401(K) PROFIT SHARING PLAN AND TRUST (2015) Form 5500
Creator: MILVETS SYSTEMS TECHNOLOGY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MILVETS SYSTEMS TECHNOLOGY, INC. 401(K) PROFIT SHARING PLAN AND TRUST, MILVETS SYSTEMS TECHNOLOGY, INC.

MILVETS SYSTEMS TECHNOLOGY, INC.EIN 62-1279457Plan #001PY 2015

11825 HIGH TECH AVE., SUITE 150 - ORLANDO, FL 32817407-207-2242milvets.comLinkedIn51-200 employeesinformation technology and services

Prospect flagsLow returnsLow assets / participantLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$1.3M

No prior year

Total participants

182

No prior year

Average account balance

$7,808

No prior year

Annual return

-4.64%

No prior year

Benchmarks

See 4,662 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort4,662 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.13M

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

236

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.

32.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$539K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+13.34%

Not enough data

1 years with return on file

Admin fee / account holder

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

$257

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

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 codes2E2F2G2J2T3D

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.

Opportunity flags

4 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$7K

$58 / participant

Investment mgmt$5K74.2%
Contract admin$2K25.8%

% of EOY assets

0.535%

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: BERMAN HOPKINS WRIGHT & LAHAM, CPAS
Auditor EIN: 591152714
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$7,808

$70,002-88.8%

$115,037-93.2%

$52,331-85.1%

Participation rate

85.7%

72.1%+13.6pp

81.4%+4.3pp

68.1%+17.6pp

Annual return

-4.64%

4.04%-8.7pp

26.14%-30.8pp

4.54%-9.2pp

Employer contribution / active EE

$2,245

$2,715-17.3%

$4,608-51.3%

$1,882+19.3%

Participant deferral / active EE

$4,435

$4,920-9.8%

$6,026-26.4%

$3,022+46.8%

Admin fee / account holder

$42

$566-92.6%

$8,175-99.5%

$592-92.9%

MILVETS SYSTEMS TECHNOLOGY, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MILVETS SYSTEMS TECHNOLOGY, INC. 401(K) 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