Retirement plan

RETIREMENT INCOME SECURITY PLAN-MIDWEST FLOOR COVERINGS, INC.

Name: MIDWEST FLOOR COVERINGS, INC. - RETIREMENT INCOME SECURITY PLAN-MIDWEST FLOOR COVERINGS, INC. (2024) 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 2024

810 WEST 2500 SOUTH - SALT LAKE CITY, UT 84119801-972-1125

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$6.1M

+7.4% from 2023

Total participants

124

-7.5% from 2023

Average account balance

$51,207

+15.5% from 2023

Annual return

10.92%

-6.23 pp from 2023

Benchmarks

See 9,019 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,019 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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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

See the 9-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
HEALTHEQUITY RETIREMENT SERVICES2 years Filed as: HEALTHEQUITY RETIREMENT SERVICES, L Service code 12 · EIN 82-1222973	Investment advisory (plan); Named fid...	$26,820
EP WEALTH ADVISORS LLC4 years Filed as: EP WEALTH ADVISORS, INC. Service code 26 · EIN 33-0152539	Advisory (Participants)	$23,757
AMERITAS LIFE INSURANCE CORP2 years Service code 12 · EIN 47-0098400	Other services; Account maintenance f...	$8,945
MATRIX TRUST COMPANY5 years Service code 19 · EIN 75-3182674	Securities Custodian	$1,160

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$64K

$658 / participant

Trustee / custodial$1K1.8%
Investment mgmt$24K37.2%
Contract admin$36K56.1%
Other / not subdivided$3K4.9%

% of EOY assets

1.047%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BAS PARTNERS
Auditor EIN: 208779390
Audit fees: $3,100
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$51,207

$101,724-49.7%

$164,813-68.9%

$80,856-36.7%

Participation rate

94.8%

71.8%+23.0pp

78.6%+16.2pp

67.6%+27.2pp

Annual return

10.92%

16.72%-5.8pp

69.93%-59.0pp

35.59%-24.7pp

Employer contribution / active EE

$2,953-100.0%

$4,341-100.0%

$2,755-100.0%

Participant deferral / active EE

$4,753

$4,477+6.2%

$6,031-21.2%

$4,296+10.6%

Admin fee / account holder

$536

$8,227-93.5%

$12,690-95.8%

$6,918-92.3%

Provider

Service type

Compensation

HEALTHEQUITY RETIREMENT SERVICES2 years

Filed as: HEALTHEQUITY RETIREMENT SERVICES, L

Service code 12 · EIN 82-1222973

Investment advisory (plan); Named fid...

$26,820

EP WEALTH ADVISORS LLC4 years

Filed as: EP WEALTH ADVISORS, INC.

Service code 26 · EIN 33-0152539

Advisory (Participants)

$23,757

AMERITAS LIFE INSURANCE CORP2 years

Service code 12 · EIN 47-0098400

Other services; Account maintenance f...

$8,945

MATRIX TRUST COMPANY5 years

Service code 19 · EIN 75-3182674

Securities Custodian

$1,160

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