Retirement plan

MGC CONTRACTORS, INC. 401(K) PLAN

Name: MGC CONTRACTORS, INC. - MGC CONTRACTORS, INC. 401(K) PLAN (2024) Form 5500
Creator: MGC CONTRACTORS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MGC CONTRACTORS, INC. 401(K) PLAN, MGC CONTRACTORS, INC.

MGC CONTRACTORS, INC.EIN 86-0443028Plan #001PY 2024

4110 EAST ELWOOD STREET - PHOENIX, AZ 85040602-437-5000mgccontractors.comLinkedIn201-500 employeesconstruction

Other plans on this EIN

1 filing

#003Retirement-$44.8M assets

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$17.8M

+22.4% from 2023

Total participants

375

+21.0% from 2023

Average account balance

$48,090

+0.3% from 2023

Annual return

13.23%

-3.33 pp from 2023

Benchmarks

See 1,563 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,563 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.84M

Not enough data

1 years with asset history on file

Average account balance

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

$48K

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.

371

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.

98.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.65M

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

+13.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$157

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$28,453
CAMBRIDGE INVESTMENT RESEARCH9 years Filed as: CAMBRIDGE INV. RESEARCH ADVISORS Service code 27 · EIN 22-3723068 1776 PLEASANT PLAIN ROAD · FAIRFIELD, IA 52556	Advisory (Plan)	$26,526
ASCENSUS LLC3 years Filed as: FUTUREPLAN BY ASCENSUS Service code 13 101 W. BROADWAY · SAN DIEGO, CA 92101	Contract Administrator	$4,260
BLUE CHIP RETIREMENT PLANS, INC.1 year Filed as: BLUE RIDGE ESOP ASSOCIATES Service code 13 154 HANSEN RD STE 201 · CHARLOTTESVILLE, VA 22911	Contract Administrator	$935
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER FINANCIAL SERVICES, INC Service code 59 8515 E ORCHARD ROAD · GREENWOOD VILLIAGE, CO 80111	Shareholder Servicing	$10

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

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$58K

$204 / participant

Contract admin$58K100.0%

% of EOY assets

0.325%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CBIZ CPAS P.C.
Auditor EIN: 431947695
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$48,090

$82,979-42.0%

$102,412-53.0%

$77,736-38.1%

Participation rate

98.6%

71.5%+27.1pp

74.5%+24.1pp

70.6%+28.0pp

Annual return

13.23%

19.11%-5.9pp

24.94%-11.7pp

31.26%-18.0pp

Employer contribution / active EE

$1,329

$3,554-62.6%

$3,870-65.7%

$2,728-51.3%

Participant deferral / active EE

$4,498

$4,109+9.5%

$5,060-11.1%

$4,651-3.3%

Admin fee / account holder

$157

$639-75.5%

$8,388-98.1%

$433-63.9%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$28,453

CAMBRIDGE INVESTMENT RESEARCH9 years

Filed as: CAMBRIDGE INV. RESEARCH ADVISORS

Service code 27 · EIN 22-3723068

1776 PLEASANT PLAIN ROAD · FAIRFIELD, IA 52556

Advisory (Plan)

$26,526

ASCENSUS LLC3 years

Filed as: FUTUREPLAN BY ASCENSUS

Service code 13

101 W. BROADWAY · SAN DIEGO, CA 92101

Contract Administrator

$4,260

BLUE CHIP RETIREMENT PLANS, INC.1 year

Filed as: BLUE RIDGE ESOP ASSOCIATES

Service code 13

154 HANSEN RD STE 201 · CHARLOTTESVILLE, VA 22911

Contract Administrator

$935

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER FINANCIAL SERVICES, INC

Service code 59

8515 E ORCHARD ROAD · GREENWOOD VILLIAGE, CO 80111

Shareholder Servicing

$10

MGC CONTRACTORS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MGC CONTRACTORS, 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