Retirement plan

MAG INSTRUMENT, INC. PROFIT SHARING PLAN

Name: MAG INSTRUMENT, INC. - MAG INSTRUMENT, INC. PROFIT SHARING PLAN (2020) 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 2020

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

Prospect flagsLow employer contribution

How to read this page

Total assets (EOY)

$13.5M

+9.8% from 2019

Total participants

397

-14.8% from 2019

Average account balance

$37,309

+32.2% from 2019

Annual return

12.92%

-3.79 pp from 2019

Benchmarks

See 2,346 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,346 peers

Snapshot2020

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.6+ years Service code 15 · EIN 94-1347393	Recordkeeping	$66,789
MAG INSTRUMENTS, INC.1 year Service code 10 · EIN 95-2912384	Accounting	$10,375

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

1 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$77K

$287 / participant

Other / not subdivided$77K100.0%

% of EOY assets

0.570%

all-in expense ratio

Categories reported

0 / 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

$37,309

$79,519-53.1%

$95,964-61.1%

$73,412-49.2%

Participation rate

87.4%

81.2%+6.2pp

77.1%+10.3pp

72.2%+15.2pp

Annual return

12.92%

19.20%-6.3pp

91.64%-78.7pp

59.30%-46.4pp

Employer contribution / active EE

$2,048-100.0%

$2,541-100.0%

$2,234-100.0%

Participant deferral / active EE

$2,041

$4,138-50.7%

$4,167-51.0%

$3,806-46.4%

Admin fee / account holder

$213

$184+15.3%

$6,797-96.9%

$158+34.6%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.6+ years

Service code 15 · EIN 94-1347393

Recordkeeping

$66,789

MAG INSTRUMENTS, INC.1 year

Service code 10 · EIN 95-2912384

Accounting

$10,375

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