Retirement plan

MGT OF AMERICA CONSULTING, LLC 401(K) PROFIT SHARING PLAN AND TRUST

Name: MGT OF AMERICA CONSULTING, LLC - MGT OF AMERICA CONSULTING, LLC 401(K) PROFIT SHARING PLAN AND TRUST (2020) Form 5500
Creator: MGT OF AMERICA CONSULTING, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MGT OF AMERICA CONSULTING, LLC 401(K) PROFIT SHARING PLAN AND TRUST, MGT OF AMERICA CONSULTING, LLC

MGT OF AMERICA CONSULTING, LLCEIN 81-0890071Plan #001PY 2020

3800 ESPLANADE WAY STE 210 - TALLAHASSEE, FL 32311850-386-3191

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$10.4M

+6.5% from 2019

Total participants

175

+10.8% from 2019

Average account balance

$63,114

-9.0% from 2019

Annual return

11.30%

-14.32 pp from 2019

Benchmarks

See 5,591 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,591 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$49.26M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

963

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.

96.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$8.01M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+16.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$154

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 3 by compensation

Provider	Service type	Compensation
UBS FINANCIAL SERVICES INC2 years Filed as: UBS FINANCIAL SERVICES Service code 27 · EIN 13-2638166	Advisory (Plan)	$75,981
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MASSMUTUAL LIFE INS CO Service code 15 · EIN 04-1590850	Recordkeeping	$21,206
FLORIDA RETIREMENT CONSULTANTS5+ years Service code 13 4919 VAN DYKE RD · LUTZ, FL 33558	Contract Administrator	$1,335

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D2S3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$99K

$814 / participant

Investment mgmt$76K77.1%
Contract admin$23K22.9%

% of EOY assets

0.946%

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: THOMAS HOWELL FERGUSON
Auditor EIN: 593186310
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$63,114

$99,957-36.9%

$149,745-57.9%

$73,497-14.1%

Participation rate

91.7%

75.7%+16.0pp

82.5%+9.3pp

70.7%+21.1pp

Annual return

11.30%

53.87%-42.6pp

276.72%-265.4pp

28.51%-17.2pp

Employer contribution / active EE

$2,216

$3,191-30.6%

$4,646-52.3%

$2,270-2.4%

Participant deferral / active EE

$5,689

$6,073-6.3%

$6,843-16.9%

$3,740+52.1%

Admin fee / account holder

$597

$551+8.4%

$9,312-93.6%

$513+16.4%

Provider

Service type

Compensation

UBS FINANCIAL SERVICES INC2 years

Filed as: UBS FINANCIAL SERVICES

Service code 27 · EIN 13-2638166

Advisory (Plan)

$75,981

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MASSMUTUAL LIFE INS CO

Service code 15 · EIN 04-1590850

Recordkeeping

$21,206

FLORIDA RETIREMENT CONSULTANTS5+ years

Service code 13

4919 VAN DYKE RD · LUTZ, FL 33558

Contract Administrator

$1,335

MGT OF AMERICA CONSULTING, LLC 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MGT OF AMERICA CONSULTING, LLC 401(K) PROFIT SHARING PLAN AND TRUST

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