Retirement plan

MHC 401(K) PLAN

Name: MHC SOFTWARE HOLDINGS, INC. - MHC 401(K) PLAN (2023) Form 5500
Creator: MHC SOFTWARE HOLDINGS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MHC 401(K) PLAN, MHC SOFTWARE HOLDINGS, INC.

MHC SOFTWARE HOLDINGS, INC.EIN 84-2954086Plan #001PY 2023

12000 PORTLAND AVE S, SUITE 230 - BURNSVILLE, MN 55337952-882-3304

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$21.5M

+15.9% from 2022

Total participants

197

+3.7% from 2022

Average account balance

$110,888

+11.1% from 2022

Annual return

19.54%

+30.33 pp from 2022

Benchmarks

See 1,031 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants100-249

Cohort1,031 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.64M

Not enough data

1 years with asset history on file

Average account balance

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

$130K

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.

189

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.

98.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.89M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+14.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$227

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 2 by compensation

Provider	Service type	Compensation
CARLSON CAPITAL MANAGEMENT3+ years Service code 27 · EIN 41-1689533	Advisory (Plan)	$35,000
ALERUS FINANCIAL, N.A.1 year Service code 15 · EIN 45-6062081	Recordkeeping	$7,051

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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

1 tripped

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

$42K

$311 / participant

Recordkeeping$7K16.8%
Investment mgmt$35K83.2%

% of EOY assets

0.195%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: EIDE BAILLY, LLP
Auditor EIN: 450250958
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$110,888

$69,511+59.5%

$94,664+17.1%

$71,511+55.1%

Participation rate

97.8%

78.4%+19.4pp

80.8%+16.9pp

67.9%+29.8pp

Annual return

19.54%

29.67%-10.1pp

156.84%-137.3pp

28.86%-9.3pp

Employer contribution / active EE

$4,253

$2,853+49.1%

$3,673+15.8%

$2,589+64.3%

Participant deferral / active EE

$10,538

$7,348+43.4%

$7,417+42.1%

$4,291+145.6%

Admin fee / account holder

$217

$1,211-82.1%

$7,222-97.0%

$1,588-86.4%

Provider

Service type

Compensation

CARLSON CAPITAL MANAGEMENT3+ years

Service code 27 · EIN 41-1689533

Advisory (Plan)

$35,000

ALERUS FINANCIAL, N.A.1 year

Service code 15 · EIN 45-6062081

Recordkeeping

$7,051

MHC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MHC 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