Retirement plan

MASTERBRAND, INC. RETIREMENT SAVINGS PLAN

Name: MASTERBRAND, INC. - MASTERBRAND, INC. RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: MASTERBRAND, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MASTERBRAND, INC. RETIREMENT SAVINGS PLAN, MASTERBRAND, INC.

MASTERBRAND, INC.EIN 88-3479920Plan #008PY 2024

3300 ENTERPRISE PARKWAY, SUITE 300 - BEACHWOOD, OH 44122877-622-4782masterbrand.comLinkedIn10001+ employeesbuilding materials

Prospect flagsLow assets / participantLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$544.3M

+12.3% from 2023

Total participants

9,051

+6.3% from 2023

Average account balance

$63,663

+7.9% from 2023

Annual return

16.34%

+16.34 pp from 2023

Benchmarks

See 54 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants5,000-9,999

Cohort54 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$684.71M

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

9,744

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.

96.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$43.91M

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

+29.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$81

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
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Service code 25 · EIN 04-2647786	Directed Trustee	$407,016
FINANCIAL ENGINES2+ years Service code 27 · EIN 77-0473565	Advisory (Plan)	$108,875
AON CONSULTING2+ years Filed as: AON CONSULTING, INC. Service code 27 · EIN 22-2232264	Advisory (Plan)	$74,900
BDO USA, LLP2+ years Filed as: BDO USA, P.C. Service code 10 · EIN 13-5381590	Accounting	$60,600

Reportable transactions (Schedule G)

5 rows

Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.

Category	Counterparty	Relationship / Terms	Address	Amount
Part 1 Loan in default	Counterparty name	Party in interest Five-year promissory note	1234 Example Ave City, ST 00000	$XXX,XXX
Part 1 Loan in default	Counterparty name	Party in interest Five-year promissory note	1234 Example Ave City, ST 00000	$XXX,XXX
Part 1 Loan in default	Counterparty name	Party in interest Five-year promissory note	1234 Example Ave City, ST 00000	$XXX,XXX

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Plan features & details

Pension benefit codes2E2F2I2K2S2T3D2R3H

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).
2I
Stock bonus
Stock bonus plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant 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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$651K

$99 / participant

Recordkeeping$393K60.4%
Trustee / custodial$10K1.5%
Investment mgmt$109K16.7%
Contract admin$4K0.6%
Other / not subdivided$136K20.8%

% of EOY assets

0.120%

all-in expense ratio

Categories reported

4 / 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: BDO USA P C.
Auditor EIN: 135381590
Audit fees: $60,600
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$63,663

$152,281-58.2%

$106,213-40.1%

$99,062-35.7%

Participation rate

92.4%

92.2%+0.2pp

75.3%+17.1pp

71.6%+20.8pp

Annual return

16.34%

15.00%+1.3pp

116.14%-99.8pp

17.66%-1.3pp

Employer contribution / active EE

$2,560

$5,348-52.1%

$3,171-19.3%

$3,262-21.5%

Participant deferral / active EE

$3,990

$8,206-51.4%

$5,016-20.4%

$5,331-25.2%

Admin fee / account holder

$76

$77-1.8%

$11,033-99.3%

$109-30.2%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Service code 25 · EIN 04-2647786

Directed Trustee

$407,016

FINANCIAL ENGINES2+ years

Service code 27 · EIN 77-0473565

Advisory (Plan)

$108,875

AON CONSULTING2+ years

Filed as: AON CONSULTING, INC.

Service code 27 · EIN 22-2232264

Advisory (Plan)

$74,900

BDO USA, LLP2+ years

Filed as: BDO USA, P.C.

Service code 10 · EIN 13-5381590

Accounting

$60,600

MASTERBRAND, INC. RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Reportable transactions (Schedule G)

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MASTERBRAND, INC. RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Reportable transactions (Schedule G)

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