Retirement plan

MITAC 401(K) PLAN

Name: MITAC COMPUTING TECHNOLOGY USA CORPORATION - MITAC 401(K) PLAN (2024) Form 5500
Creator: MITAC COMPUTING TECHNOLOGY USA CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MITAC 401(K) PLAN, MITAC COMPUTING TECHNOLOGY USA CORPORATION

MITAC COMPUTING TECHNOLOGY USA CORPORATIONEIN 68-0193975Plan #001PY 2024

39660 EUREKA DR. - NEWARK, CA 94560510-284-3204LinkedIn501-1000 employeesinformation technology and services

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$60.3M

+6.8% from 2023

Total participants

310

-6.3% from 2023

Average account balance

$216,250

+15.2% from 2023

Annual return

14.73%

-3.58 pp from 2023

Benchmarks

See 4,099 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,099 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$60.33M

Not enough data

1 years with asset history on file

Average account balance

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

$216K

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.

279

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.

83.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.55M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+14.73%

Not enough data

1 years with return on file

Admin fee / account holder

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

$314

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 2 by compensation

Provider	Service type	Compensation
CAPFINANCIAL PARTNERS LLC1 year Filed as: CAPFINANCIAL PARTNERS LLC DBA CAPTR Service code 27 4208 SIX FORKS RD STE 1700 · RALEIGH, NC 27609	Advisory (Plan)	$85,511
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 · EIN 06-1050034 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$2,020

Plan features & details

Pension benefit codes2E2F2G2K2T3D3H

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$88K

$454 / participant

Recordkeeping$2K2.3%
Investment mgmt$86K97.7%

% of EOY assets

0.145%

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: THE PUN GROUP, LLP
Auditor EIN: 464016990
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$216,250

$79,223+173.0%

$102,460+111.1%

$74,478+190.4%

Participation rate

83.9%

74.8%+9.2pp

76.5%+7.4pp

67.2%+16.7pp

Annual return

14.73%

54.98%-40.2pp

29.47%-14.7pp

1370.56%-1355.8pp

Employer contribution / active EE

$2,107

$2,363-10.9%

$3,025-30.4%

$2,626-19.8%

Participant deferral / active EE

$11,104

$4,417+151.4%

$5,056+119.6%

$4,350+155.3%

Admin fee / account holder

$314

$2,003-84.3%

$9,460-96.7%

$1,946-83.9%

Provider

Service type

Compensation

CAPFINANCIAL PARTNERS LLC1 year

Filed as: CAPFINANCIAL PARTNERS LLC DBA CAPTR

Service code 27

4208 SIX FORKS RD STE 1700 · RALEIGH, NC 27609

Advisory (Plan)

$85,511

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64 · EIN 06-1050034

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$2,020

MITAC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MITAC 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