Retirement plan

MAGIC VALLEY EQUIPMENT CO., INC., 401(K) PLAN

Name: MAGIC VALLEY EQUIPMENT CO., INC. - MAGIC VALLEY EQUIPMENT CO., INC., 401(K) PLAN (2021) Form 5500
Creator: MAGIC VALLEY EQUIPMENT CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MAGIC VALLEY EQUIPMENT CO., INC., 401(K) PLAN, MAGIC VALLEY EQUIPMENT CO., INC.

MAGIC VALLEY EQUIPMENT CO., INC.EIN 82-0413079Plan #001PY 2021

HWY 25 EAST, P.O. BOX 746 - PAUL, ID 83347208-438-2122mvequip.comLinkedIn1-10 employeesretail

Prospect flagsLow returnsLow fidelity bond

How to read this page

Total assets (EOY)

$1.5M

+6.2% from 2020

Total participants

-8.3% from 2020

Average account balance

$193,713

+6.2% from 2020

Annual return

4.41%

+0.41 pp from 2020

Benchmarks

See 8,321 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort8,321 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$775K

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

122.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$51K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$414

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 codes2E2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$1K

$133 / participant

Other / not subdivided$1K100.0%

% of EOY assets

0.086%

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

$193,713

$127,273+52.2%

$109,895+76.3%

$167,518+15.6%

Participation rate

70.0%

77.9%-7.9pp

74.2%-4.2pp

82.1%-12.1pp

Annual return

4.41%

22.97%-18.6pp

29.46%-25.0pp

478.71%-474.3pp

Employer contribution / active EE

$1,156

$3,324-65.2%

$2,843-59.3%

$4,838-76.1%

Participant deferral / active EE

$1,455

$4,515-67.8%

$4,049-64.1%

$6,342-77.1%

Admin fee / account holder

$166

$7,117-97.7%

$6,067-97.3%

$12,312-98.7%

MAGIC VALLEY EQUIPMENT CO., INC., 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MAGIC VALLEY EQUIPMENT CO., 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