Retirement plan

CUTTER AUTOMOTIVE GALLERIES 401(K) RETIREMENT SAVINGS PLAN

Name: MJC, INC. - CUTTER AUTOMOTIVE GALLERIES 401(K) RETIREMENT SAVINGS PLAN (2019) Form 5500
Creator: MJC, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CUTTER AUTOMOTIVE GALLERIES 401(K) RETIREMENT SAVINGS PLAN, MJC, INC.

MJC, INC.EIN 80-0511605Plan #001PY 2019

744 ALA MOANA BLVD - HONOLULU, HI 96813808-356-5080

Prospect flagsLow returnsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$18.6M

+20.7% from 2018

Total participants

337

-1.5% from 2018

Average account balance

$66,312

+18.9% from 2018

Annual return

17.19%

+20.46 pp from 2018

Benchmarks

See 1,312 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,312 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.25M

Not enough data

1 years with asset history on file

Average account balance

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

$98K

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.

197

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.

75.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$932K

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

+11.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$292

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 10 of 17 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Service code 49 · EIN 04-1590850	Other Services	$95,489
LPL FINANCIAL1 year Filed as: LPL FINANCIAL RP Service code 27 · EIN 04-3046611	Advisory (Plan)	$35,818
SUEMORI & INOUYE, INC.4+ years Service code 50 · EIN 99-0242337	Direct Payment	$9,924
SI GROUP CERTIFIED PENSION CONSULT1 year Filed as: SI GROUP CERTIFIED PENSION CONSULTA Service code 13 · EIN 99-0242337	Contract Administrator	$7,998
AB FUNDS1 year Service code 52 · EIN 13-4071393	Indirect Investment Fees	$0
AMERICAN CENTURY1 year Service code 52 · EIN 43-1646043	Indirect Investment Fees	$0
AMERICAN FUNDS1 year Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
BLACKROCK1 year Service code 52 · EIN 04-6171663	Indirect Investment Fees	$0
COLUMBIA1 year Service code 52 · EIN 94-1687665	Indirect Investment Fees	$0
DIMENSIONAL FUND ADVISORS1 year Service code 52 · EIN 36-3129984	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D2T

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.
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

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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$105K

$335 / participant

Investment mgmt$86K81.8%
Contract admin$9K8.7%
Other / not subdivided$10K9.4%

% of EOY assets

0.566%

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: KKDLY LLC
Auditor EIN: 990292355
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,312

$40,174+65.1%

$84,023-21.1%

$67,582-1.9%

Participation rate

82.2%

62.7%+19.5pp

69.0%+13.2pp

71.3%+10.9pp

Annual return

17.19%

25.82%-8.6pp

71.32%-54.1pp

378.57%-361.4pp

Employer contribution / active EE

$786

$808-2.7%

$1,984-60.4%

$2,148-63.4%

Participant deferral / active EE

$2,824

$2,301+22.7%

$3,239-12.8%

$3,539-20.2%

Admin fee / account holder

$375

$128+192.4%

$6,102-93.9%

$142+163.6%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Service code 49 · EIN 04-1590850

Other Services

$95,489

LPL FINANCIAL1 year

Filed as: LPL FINANCIAL RP

Service code 27 · EIN 04-3046611

Advisory (Plan)

$35,818

SUEMORI & INOUYE, INC.4+ years

Service code 50 · EIN 99-0242337

Direct Payment

$9,924

SI GROUP CERTIFIED PENSION CONSULT1 year

Filed as: SI GROUP CERTIFIED PENSION CONSULTA

Service code 13 · EIN 99-0242337

Contract Administrator

$7,998

AB FUNDS1 year

Service code 52 · EIN 13-4071393

Indirect Investment Fees

AMERICAN CENTURY1 year

Service code 52 · EIN 43-1646043

Indirect Investment Fees

AMERICAN FUNDS1 year

Service code 52 · EIN 95-1411037

Indirect Investment Fees

BLACKROCK1 year

Service code 52 · EIN 04-6171663

Indirect Investment Fees

COLUMBIA1 year

Service code 52 · EIN 94-1687665

Indirect Investment Fees

DIMENSIONAL FUND ADVISORS1 year

Service code 52 · EIN 36-3129984

Indirect Investment Fees

CUTTER AUTOMOTIVE GALLERIES 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CUTTER AUTOMOTIVE GALLERIES 401(K) RETIREMENT SAVINGS 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