Retirement plan

MID-STATES MILLWRIGHT AND BUILDERS, INC. 401(K) PLAN

Name: MID-STATES MILLWRIGHT AND BUILDERS, INC. - MID-STATES MILLWRIGHT AND BUILDERS, INC. 401(K) PLAN (2023) Form 5500
Creator: MID-STATES MILLWRIGHT AND BUILDERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MID-STATES MILLWRIGHT AND BUILDERS, INC. 401(K) PLAN, MID-STATES MILLWRIGHT AND BUILDERS, INC.

MID-STATES MILLWRIGHT AND BUILDERS, INC.EIN 76-0707249Plan #001PY 2023

1116 S B AVE - NEVADA, IA 50201515-382-6280LinkedIn1-10 employeesconstruction

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$3M

+70.9% from 2022

Total participants

+4.9% from 2022

Average account balance

$49,779

+54.1% from 2022

Annual return

43.33%

+45.56 pp from 2022

Benchmarks

See 18,037 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,037 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.78M

Not enough data

1 years with asset history on file

Average account balance

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

$58K

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.

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.

79.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$730K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+10.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4953

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

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

3 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.)
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

$168K

$2180 / participant

Other / not subdivided$168K100.0%

% of EOY assets

5.528%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$49,779

$73,978-32.7%

$96,515-48.4%

$75,173-33.8%

Participation rate

68.8%

66.4%+2.4pp

74.3%-5.5pp

67.2%+1.6pp

Annual return

43.33%

26.72%+16.6pp

35.73%+7.6pp

160.72%-117.4pp

Employer contribution / active EE

$2,408

$2,931-17.8%

$3,740-35.6%

$2,671-9.8%

Participant deferral / active EE

$5,796

$3,660+58.3%

$4,880+18.8%

$4,126+40.5%

Admin fee / account holder

$2,752

$5,219-47.3%

$6,735-59.1%

$5,651-51.3%

MID-STATES MILLWRIGHT AND BUILDERS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MID-STATES MILLWRIGHT AND BUILDERS, 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