Retirement plan

MAG INSTRUMENT, INC. PROFIT SHARING PLAN

Name: MAG INSTRUMENT, INC. - MAG INSTRUMENT, INC. PROFIT SHARING PLAN (2019) Form 5500
Creator: MAG INSTRUMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MAG INSTRUMENT, INC. PROFIT SHARING PLAN, MAG INSTRUMENT, INC.

MAG INSTRUMENT, INC.EIN 95-2912384Plan #001PY 2019

2001 SOUTH HELLMAN AVENUE - ONTARIO, CA 91761909-947-1006maglite.comLinkedIn201-500 employeesconsumer goods

Prospect flagsLow returnsLow assets / participant

How to read this page

Total assets (EOY)

$12.3M

+7.0% from 2018

Total participants

466

-10.4% from 2018

Average account balance

$28,228

+17.1% from 2018

Annual return

16.71%

+20.03 pp from 2018

Benchmarks

See 2,415 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,415 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.63M

Not enough data

1 years with asset history on file

Average account balance

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

$46K

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.

252

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.

83.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$413K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$238

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

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.5+ years Service code 15 · EIN 94-1347393	Recordkeeping	$68,394
HBLA4 years Service code 10 · EIN 33-0155525	Accounting	$11,575

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

2 tripped

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.

Expense breakdown

Schedule H Part II

Admin total

$80K

$273 / participant

Contract admin$68K85.5%
Other / not subdivided$12K14.5%

% of EOY assets

0.649%

all-in expense ratio

Categories reported

1 / 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: HBLA CERTIFIED PUBLIC ACCOUNTANTS
Auditor EIN: 330155525
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,228

$73,404-61.5%

$87,103-67.6%

$67,582-58.2%

Participation rate

90.1%

80.9%+9.2pp

76.9%+13.2pp

71.3%+18.8pp

Annual return

16.71%

48.29%-31.6pp

28.19%-11.5pp

378.57%-361.9pp

Employer contribution / active EE

$2,014-100.0%

$2,521-100.0%

$2,148-100.0%

Participant deferral / active EE

$2,104

$3,913-46.2%

$4,049-48.0%

$3,539-40.5%

Admin fee / account holder

$183

$142+29.3%

$7,491-97.6%

$142+28.7%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.5+ years

Service code 15 · EIN 94-1347393

Recordkeeping

$68,394

HBLA4 years

Service code 10 · EIN 33-0155525

Accounting

$11,575

MAG INSTRUMENT, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MAG INSTRUMENT, INC. PROFIT SHARING 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