Retirement plan

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

Name: MAGIC VALLEY EQUIPMENT CO., INC. - MAGIC VALLEY EQUIPMENT CO., INC., 401(K) PLAN (2023) 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 2023

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)

$1M

+11.5% from 2022

Total participants

+33.3% from 2022

Average account balance

$104,864

-21.9% from 2022

Annual return

7.42%

+11.97 pp from 2022

Benchmarks

See 9,626 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort9,626 peers

Snapshot2023

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

$127 / participant

Other / not subdivided$1K100.0%

% of EOY assets

0.133%

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

$104,864

$110,278-4.9%

$95,740+9.5%

$139,466-24.8%

Participation rate

81.8%

75.7%+6.1pp

72.3%+9.6pp

80.3%+1.5pp

Annual return

7.42%

27.19%-19.8pp

28.41%-21.0pp

373.66%-366.2pp

Employer contribution / active EE

$1,594

$3,260-51.1%

$2,836-43.8%

$4,754-66.5%

Participant deferral / active EE

$1,911

$4,674-59.1%

$4,244-55.0%

$6,712-71.5%

Admin fee / account holder

$139

$6,613-97.9%

$5,676-97.5%

$11,409-98.8%

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