Retirement plan

MILLER INDUSTRIES, INC.401(K) PLAN

Name: MILLER INDUSTRIES, INC. - MILLER INDUSTRIES, INC.401(K) PLAN (2020) Form 5500
Creator: MILLER INDUSTRIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MILLER INDUSTRIES, INC.401(K) PLAN, MILLER INDUSTRIES, INC.

MILLER INDUSTRIES, INC.EIN 62-1566286Plan #001PY 2020

8503 HILLTOP DRIVE - OOLTEWAH, TN 37363423-238-4171millerind.comLinkedIn1001-5000 employeesautomotive

Prospect flagsLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$46.7M

+8.3% from 2019

Total participants

1,159

-9.8% from 2019

Average account balance

$48,065

+19.1% from 2019

Annual return

19.71%

-1.44 pp from 2019

Benchmarks

See 763 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort763 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$63.05M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

1,390

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.

89.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.05M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+12.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$156

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

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Service providers

Top 8 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$63,726
ORENDA RETIREMENT, LLC1 year Service code 13 · EIN 36-4877979	Contract Administrator	$46,394
SWEROLYN & COMPANY1 year Service code 10 · EIN 58-1392124	Accounting	$33,548
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES & ASSOCIATES, INC. Service code 27 · EIN 59-1237041	Advisory (Plan)	$33,200
ORENDA RETIREMENT, LLC1 year Filed as: ORENDA RETIREMENT LLC Service code 13	Contract Administrator	$11,317
PAPILLON PRINTING, LLC1 year Service code 14 · EIN 81-5183995	Plan Administrator	$9,131
LBMC, PC1 year Service code 10 · EIN 62-1199757	Accounting	$8,668
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES & ASSOCIATES INC Service code 27	Advisory (Plan)	$11

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H

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.
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 participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$215K

$198 / participant

Investment mgmt$33K15.4%
Contract admin$133K61.6%
Other / not subdivided$49K23.0%

% of EOY assets

0.461%

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: LBMC,PC
Auditor EIN: 621199757
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$48,065

$176,471-72.8%

$95,960-49.9%

$90,274-46.8%

Participation rate

82.7%

86.6%-3.9pp

77.1%+5.6pp

73.4%+9.4pp

Annual return

19.71%

20.15%-0.4pp

91.63%-71.9pp

53.97%-34.3pp

Employer contribution / active EE

$939

$2,783-66.3%

$2,541-63.0%

$2,523-62.8%

Participant deferral / active EE

$2,638

$5,325-50.5%

$4,167-36.7%

$4,231-37.6%

Admin fee / account holder

$222

$154+43.7%

$6,797-96.7%

$114+94.3%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$63,726

ORENDA RETIREMENT, LLC1 year

Service code 13 · EIN 36-4877979

Contract Administrator

$46,394

SWEROLYN & COMPANY1 year

Service code 10 · EIN 58-1392124

Accounting

$33,548

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES & ASSOCIATES, INC.

Service code 27 · EIN 59-1237041

Advisory (Plan)

$33,200

ORENDA RETIREMENT, LLC1 year

Filed as: ORENDA RETIREMENT LLC

Service code 13

Contract Administrator

$11,317

PAPILLON PRINTING, LLC1 year

Service code 14 · EIN 81-5183995

Plan Administrator

$9,131

LBMC, PC1 year

Service code 10 · EIN 62-1199757

Accounting

$8,668

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES & ASSOCIATES INC

Service code 27

Advisory (Plan)

$11

MILLER INDUSTRIES, INC.401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MILLER INDUSTRIES, INC.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