Retirement plan

CUTTER AUTOMOTIVE GALLERIES 401(K) RETIREMENT SAVINGS PLAN

Name: MJC, INC. - CUTTER AUTOMOTIVE GALLERIES 401(K) RETIREMENT SAVINGS PLAN (2020) 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 2020

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

Prospect flagsLow returnsHigh feesLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$19.1M

+2.6% from 2019

Total participants

408

+21.1% from 2019

Average account balance

$71,863

+8.4% from 2019

Annual return

9.26%

-7.94 pp from 2019

Benchmarks

See 1,285 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,285 peers

Snapshot2020

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 18 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Service code 49 · EIN 04-1590850	Other Services	$96,444
LPL FINANCIAL1 year Filed as: LPL FINANCIAL - RP Service code 27 · EIN 04-3046611	Advisory (Plan)	$37,781
AB FUNDS2 years Service code 52 · EIN 13-4071393	Indirect Investment Fees	$0
AMERICAN CENTURY2 years Service code 52 · EIN 43-1646043	Indirect Investment Fees	$0
AMERICAN FUNDS2 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
BLACKROCK2 years Service code 52 · EIN 04-6171663	Indirect Investment Fees	$0
COLUMBIA2 years Service code 52 · EIN 94-1687665	Indirect Investment Fees	$0
DIMENSIONAL FUND ADVISORS2 years Service code 52 · EIN 36-3129984	Indirect Investment Fees	$0
FIDELITY INVESTMENTS INSTITUTIONAL2 years Filed as: FIDELITY INVESTMENTS Service code 52 · EIN 04-3022712	Indirect Investment Fees	$0
INVESCO2 years Service code 52 · EIN 22-2725700	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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$122K

$315 / participant

Investment mgmt$116K95.5%
Contract admin$5K3.9%
Other / not subdivided$7250.6%

% of EOY assets

0.637%

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

$71,863

$64,286+11.8%

$90,970-21.0%

$73,412-2.1%

Participation rate

63.2%

63.6%-0.4pp

69.0%-5.8pp

72.2%-9.0pp

Annual return

9.26%

21.46%-12.2pp

134.60%-125.3pp

59.30%-50.0pp

Employer contribution / active EE

$187

$895-79.1%

$2,122-91.2%

$2,234-91.6%

Participant deferral / active EE

$2,206

$2,453-10.1%

$3,373-34.6%

$3,806-42.0%

Admin fee / account holder

$457

$287+59.3%

$5,961-92.3%

$158+189.7%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Service code 49 · EIN 04-1590850

Other Services

$96,444

LPL FINANCIAL1 year

Filed as: LPL FINANCIAL - RP

Service code 27 · EIN 04-3046611

Advisory (Plan)

$37,781

AB FUNDS2 years

Service code 52 · EIN 13-4071393

Indirect Investment Fees

AMERICAN CENTURY2 years

Service code 52 · EIN 43-1646043

Indirect Investment Fees

AMERICAN FUNDS2 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

BLACKROCK2 years

Service code 52 · EIN 04-6171663

Indirect Investment Fees

COLUMBIA2 years

Service code 52 · EIN 94-1687665

Indirect Investment Fees

DIMENSIONAL FUND ADVISORS2 years

Service code 52 · EIN 36-3129984

Indirect Investment Fees

FIDELITY INVESTMENTS INSTITUTIONAL2 years

Filed as: FIDELITY INVESTMENTS

Service code 52 · EIN 04-3022712

Indirect Investment Fees

INVESCO2 years

Service code 52 · EIN 22-2725700

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