Retirement plan

MSABC MULTIPLE EMPLOYER 401(K) PLAN

Name: MISSISSIPPI ASSOCIATED BUILDERS & CONTRACTORS, INC. - MSABC MULTIPLE EMPLOYER 401(K) PLAN (2023) Form 5500
Creator: MISSISSIPPI ASSOCIATED BUILDERS & CONTRACTORS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MSABC MULTIPLE EMPLOYER 401(K) PLAN, MISSISSIPPI ASSOCIATED BUILDERS & CONTRACTORS, INC.

MISSISSIPPI ASSOCIATED BUILDERS & CONTRACTORS, INC.EIN 64-0415733Plan #333PY 2023

5165 OLD BRANDON ROAD - PEARL, MS 39208601-944-0421LinkedIn201-500 employeescivic & social organization

Prospect flagsLow returnsHigh feesLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$13.4M

+9.6% from 2022

Total participants

1,006

+61.5% from 2022

Average account balance

$32,045

-25.3% from 2022

Annual return

-1.43%

+46.31 pp from 2022

Benchmarks

See 1,011 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort1,011 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$526K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-100.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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

Service providers

Top 5 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS2 years Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 36-6071399	Recordkeeping	$92,964
RAYMOND JAMES FINANCIAL SERVICES3 years Filed as: RAYMOND JAMES AND ASSOCIATES INC Service code 27 · EIN 59-1237041	Advisory (Plan)	$30,129
TEMPLETON & COMPANY LLP5 years Service code 10 · EIN 14-1918990	Accounting	$11,500
ADMINISTRATIVE FIDUCIARY SERVICES6 years Service code 14 · EIN 46-2919997	Plan Administrator	$8,240
NOVA 401(K) ASSOCIATES5 years Filed as: NOVA 401(K) ASSOCIATES LP Service code 15 · EIN 20-1181458	Recordkeeping	$5,155

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T2U3D

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.

Opportunity flags

5 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$146K

$154 / participant

Contract admin$146K100.0%

% of EOY assets

1.091%

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: TEMPLETON & COMPANY
Auditor EIN: 141918990
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,045

$52,188-38.6%

$86,640-63.0%

$74,460-57.0%

Participation rate

38.2%

66.3%-28.2pp

71.7%-33.5pp

70.7%-32.6pp

Annual return

-1.43%

44.46%-45.9pp

592.52%-593.9pp

34.38%-35.8pp

Employer contribution / active EE

$698

$2,282-69.4%

$3,024-76.9%

$2,638-73.5%

Participant deferral / active EE

$1,061

$3,383-68.6%

$4,438-76.1%

$4,530-76.6%

Admin fee / account holder

$350

$319+9.7%

$5,616-93.8%

$348+0.5%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS2 years

Filed as: TRANSAMERICA LIFE INSURANCE COMPANY

Service code 15 · EIN 36-6071399

Recordkeeping

$92,964

RAYMOND JAMES FINANCIAL SERVICES3 years

Filed as: RAYMOND JAMES AND ASSOCIATES INC

Service code 27 · EIN 59-1237041

Advisory (Plan)

$30,129

TEMPLETON & COMPANY LLP5 years

Service code 10 · EIN 14-1918990

Accounting

$11,500

ADMINISTRATIVE FIDUCIARY SERVICES6 years

Service code 14 · EIN 46-2919997

Plan Administrator

$8,240

NOVA 401(K) ASSOCIATES5 years

Filed as: NOVA 401(K) ASSOCIATES LP

Service code 15 · EIN 20-1181458

Recordkeeping

$5,155

MSABC MULTIPLE EMPLOYER 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MSABC MULTIPLE EMPLOYER 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