Retirement plan

RETIREMENT INCOME SECURITY PLAN-MIDWEST FLOOR COVERINGS, INC.

Name: MIDWEST FLOOR COVERINGS, INC. - RETIREMENT INCOME SECURITY PLAN-MIDWEST FLOOR COVERINGS, INC. (2018) Form 5500
Creator: MIDWEST FLOOR COVERINGS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RETIREMENT INCOME SECURITY PLAN-MIDWEST FLOOR COVERINGS, INC., MIDWEST FLOOR COVERINGS, INC.

MIDWEST FLOOR COVERINGS, INC.EIN 87-0153288Plan #003PY 2018

810 WEST 2500 SOUTH - SALT LAKE CITY, UT 841191542801-972-1125

Prospect flagsLow returnsHigh feesLow participationLow assets / participantRecently reached 100 employees

How to read this page

Total assets (EOY)

$2.7M

+3.3% from 2017

Total participants

143

+3.6% from 2017

Average account balance

$26,004

-7.8% from 2017

Annual return

-8.37%

-24.67 pp from 2017

Benchmarks

See 2,344 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,344 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.09M

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.

119

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.

94.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$461K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+10.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$536

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
HEALTHEQUITY RETIREMENT SERVICES2 years Service code 14 · EIN 82-1222973	Plan Administrator	$12,090
FINANCIAL INSIGHT CENTER3+ years Filed as: FINANCIAL INSIGHT Service code 26 · EIN 27-2207344	Advisory (Participants)	$10,635
BLUESTAR RETIREMENT SERVICES2 years Service code 13 · EIN 59-3092339	Contract Administrator	$7,671
TD AMERITRADE, INC.3+ years Filed as: TD AMERITRADE TRUST COMPANY Service code 19 · EIN 20-0937408	Securities Custodian	$798

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$31K

$252 / participant

Investment mgmt$11K34.1%
Contract admin$21K65.9%

% of EOY assets

1.165%

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: BAS PARTNERS
Auditor EIN: 208779390
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$26,004

$66,302-60.8%

$110,243-76.4%

$56,289-53.8%

Participation rate

67.7%

74.9%-7.2pp

79.8%-12.1pp

69.9%-2.1pp

Annual return

-8.37%

-1.18%-7.2pp

314.76%-323.1pp

-9.96%+1.6pp

Employer contribution / active EE

$1,177

$2,047-42.5%

$3,827-69.2%

$2,111-44.3%

Participant deferral / active EE

$2,682

$3,381-20.7%

$4,672-42.6%

$3,350-19.9%

Admin fee / account holder

$303

$698-56.6%

$8,548-96.5%

$521-41.9%

Provider

Service type

Compensation

HEALTHEQUITY RETIREMENT SERVICES2 years

Service code 14 · EIN 82-1222973

Plan Administrator

$12,090

FINANCIAL INSIGHT CENTER3+ years

Filed as: FINANCIAL INSIGHT

Service code 26 · EIN 27-2207344

Advisory (Participants)

$10,635

BLUESTAR RETIREMENT SERVICES2 years

Service code 13 · EIN 59-3092339

Contract Administrator

$7,671

TD AMERITRADE, INC.3+ years

Filed as: TD AMERITRADE TRUST COMPANY

Service code 19 · EIN 20-0937408

Securities Custodian

$798

RETIREMENT INCOME SECURITY PLAN-MIDWEST FLOOR COVERINGS, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RETIREMENT INCOME SECURITY PLAN-MIDWEST FLOOR COVERINGS, INC.

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