Retirement plan

MONTEREY PENINSULA ENGINEERING RETIREMENT SAVINGS PLAN

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

MONTEREY PENINSULA ENGINEERINGEIN 94-2697245Plan #002PY 2024

192 HEALY AVE - MARINA, CA 93933831-384-4081montereypeninsulaengineering.comLinkedIn51-200 employeesconstruction

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$23.5M

+10.7% from 2023

Total participants

251

+2.0% from 2023

Average account balance

$96,803

+9.4% from 2023

Annual return

11.02%

-4.34 pp from 2023

Benchmarks

See 6,296 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,296 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$23.52M

Not enough data

1 years with asset history on file

Average account balance

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

$97K

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.

243

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.

92.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.16M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+11.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$565

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 2 by compensation

Provider	Service type	Compensation
BENECO SYSTEMS, LLC9 years Service code 15 · EIN 41-2046279	Recordkeeping	$123,820
FARBER HASS HURLEY LLP10+ years Service code 10 · EIN 20-4207759	Accounting	$13,500

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

2 tripped

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.

Expense breakdown

Schedule H Part II

Admin total

$137K

$1237 / participant

Recordkeeping$40K29.0%
Investment mgmt$79K57.9%
Contract admin$5K3.3%
Other / not subdivided$14K9.8%

% of EOY assets

0.584%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FARBER HASS HURLEY LLP
Auditor EIN: 204207759
Audit fees: $13,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$96,803

$101,499-4.6%

$147,005-34.2%

$74,546+29.9%

Participation rate

92.8%

75.5%+17.3pp

82.2%+10.6pp

67.2%+25.6pp

Annual return

11.02%

8732.34%-8721.3pp

418.76%-407.7pp

1366.03%-1355.0pp

Employer contribution / active EE

$16,012

$3,811+320.1%

$4,934+224.5%

$2,624+510.1%

Participant deferral / active EE

$3,412

$7,304-53.3%

$8,070-57.7%

$4,347-21.5%

Admin fee / account holder

$565

$1,748-67.7%

$13,006-95.7%

$1,944-70.9%

Provider

Service type

Compensation

BENECO SYSTEMS, LLC9 years

Service code 15 · EIN 41-2046279

Recordkeeping

$123,820

FARBER HASS HURLEY LLP10+ years

Service code 10 · EIN 20-4207759

Accounting

$13,500

MONTEREY PENINSULA ENGINEERING RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MONTEREY PENINSULA ENGINEERING RETIREMENT SAVINGS 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