How much does Jfn Mechanical Contracting, Inc. contribute to its ESOP?

In 2023, employer contributions to the Jfn Mechanical Contracting, Inc. plan averaged $16,067 per active participant, above the $522 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Jfn Mechanical Contracting, Inc. 401(k)?

The average participant account balance was -$53,867 for plan year 2023, based on 203 accounts.

Jfn Mechanical Contracting, Inc.ESOP

Name: Jfn Mechanical Contracting, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

J.F.N. MECHANICAL CONTRACTING, INC. EMPLOYEE STOCK OWNERSHIP PLAN · PHOENIX, AZ · plan year 2023

Employer contribution per participant · 2023

$16,067

Jfn Mechanical Contracting, Inc.'s 2023 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held -$10,935,089 across 203 participant accounts, with employer contributions averaging $16,067 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the under $1M size bracket, benchmarked here against 1,192 comparable plans and shown alongside other construction employers.

Plan summary
Net assets, end of year-$10,935,089
Participants with balances203
Active participants182
Employer contributions$2,924,270
Employee contributions—
Employer contribution per active participant$16,067
Average account balance-$53,867
Plan auditUnmodified (clean) audit opinion
AuditorHENDERSON HUTCHERSON & MCCULLOUGH,

Plan history2

Yearassets · accounts · employer contribution

2023$-10.9M · 203 accts · $2.9M emplr

2022$-41.1M · 183 accts · $3.0M emplr

Employer contributions to the Jfn Mechanical Contracting, Inc. plan · 2023

Employer contribution per active participant$16,067

Median for plans this size$522

2023$16,067 per active participant

2022$11,321 per active participant

Jfn Mechanical Contracting, Inc.'s 2023 employer contribution ran above the $522 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Administrative cost history2

2023Not separately reported

2022Not separately reported

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Fee benchmarks by plan size

Source: U.S. Department of Labor, Form 5500 series, EIN 860813571 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.