Retirement plan

UTAH MANUFACTURERS ASSOCIATION MEP 401(K) PLAN

Name: UTAH MANUFACTURERS ASSOCIATION - UTAH MANUFACTURERS ASSOCIATION MEP 401(K) PLAN (2024) Form 5500
Creator: UTAH MANUFACTURERS ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UTAH MANUFACTURERS ASSOCIATION MEP 401(K) PLAN, UTAH MANUFACTURERS ASSOCIATION

UTAH MANUFACTURERS ASSOCIATIONEIN 87-0187660Plan #333PY 2024

428 EAST WINCHESTER, SUITE 210 - MURRAY, UT 84107801-363-3885umaweb.orgLinkedIn1-10 employeesnon-profit organization management

Prospect flagsLow returnsLow participationLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$17.1M

-2.6% from 2023

Total participants

1,022

-16.6% from 2023

Average account balance

$26,439

+13.1% from 2023

Annual return

-12.30%

-33.20 pp from 2023

Benchmarks

See 2,389 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,389 peers

Snapshot2024

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$17.13M

Not enough data

1 years with asset history on file

Average account balance

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

$26K

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.

648

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.

57.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.61M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

-12.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$282

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 5-year trajectory. $4.99 for your first month.

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS2 years Filed as: TRANSAMERICA FINANCIAL LIFE Service code 15 · EIN 36-6071399	Recordkeeping	$86,906
CETERA ADVISOR NETWORKS LLC2 years Filed as: CETERA INVESTMENT ADVISERS LLC Service code 27 · EIN 36-3258176	Advisory (Plan)	$60,676
DWC - THE 401(K) EXPERTS2 years Service code 15 · EIN 26-2091417	Recordkeeping	$49,538
JONES SIMKINS LLC3 years Filed as: JONES SIMKINS Service code 10 · EIN 46-1592906	Accounting	$31,764
MESIROW FINANCIAL INVESTMENT MANAGE1 year Filed as: MESIROW FINANCIAL Service code 27 · EIN 36-3194849	Advisory (Plan)	$3,709

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
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

$183K

$210 / participant

Salaries / allowances$183K100.0%

% of EOY assets

1.067%

all-in expense ratio

Categories reported

1 / 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: JONES SIMKINS LLC
Auditor EIN: 461592906
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$26,439

$88,890-70.3%

$102,423-74.2%

$77,643-65.9%

Participation rate

57.0%

80.9%-24.0pp

76.5%-19.5pp

70.6%-13.6pp

Annual return

-12.30%

24.98%-37.3pp

29.32%-41.6pp

31.24%-43.5pp

Employer contribution / active EE

$1,436

$2,698-46.8%

$3,023-52.5%

$2,726-47.3%

Participant deferral / active EE

$2,717

$5,145-47.2%

$5,053-46.2%

$4,647-41.5%

Admin fee / account holder

$282

$235+19.8%

$9,451-97.0%

$430-34.5%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS2 years

Filed as: TRANSAMERICA FINANCIAL LIFE

Service code 15 · EIN 36-6071399

Recordkeeping

$86,906

CETERA ADVISOR NETWORKS LLC2 years

Filed as: CETERA INVESTMENT ADVISERS LLC

Service code 27 · EIN 36-3258176

Advisory (Plan)

$60,676

DWC - THE 401(K) EXPERTS2 years

Service code 15 · EIN 26-2091417

Recordkeeping

$49,538

JONES SIMKINS LLC3 years

Filed as: JONES SIMKINS

Service code 10 · EIN 46-1592906

Accounting

$31,764

MESIROW FINANCIAL INVESTMENT MANAGE1 year

Filed as: MESIROW FINANCIAL

Service code 27 · EIN 36-3194849

Advisory (Plan)

$3,709

UTAH MANUFACTURERS ASSOCIATION MEP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UTAH MANUFACTURERS ASSOCIATION MEP 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