How much does Mbi, Inc. contribute to its Profit-sharing plan?

In 2023, employer contributions to the Mbi, Inc. plan averaged $3,499 per active participant, below the $3,659 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 Mbi, Inc. 401(k)?

The average participant account balance was $322,883 for plan year 2023, based on 345 accounts.

Mbi, Inc.Profit-sharing plan

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

MBI, INC. PROFIT SHARING PLAN & TRUST · NORWALK, CT · plan year 2023

Employer contribution per participant · 2023

$3,499

Mbi, 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 $111,394,663 across 345 participant accounts, with employer contributions averaging $3,499 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $50M–$250M size bracket, benchmarked here against 9,317 comparable plans and shown alongside other retail trade employers. By assets it is the 180th-largest of 1,106 plans among Connecticut employers on file, and the 343rd of 5,215 in retail trade.

Plan summary
Net assets, end of year$111,394,663
Participants with balances345
Active participants318
Employer contributions$1,112,826
Employee contributions—
Employer contribution per active participant$3,499
Average account balance$322,883
Benefits paid to participants$3,015,583
Plan auditUnmodified (clean) audit opinion
AuditorCLIFTON LARSON ALLEN LLP

Plan history3

Yearassets · accounts · employer contribution

2024$110.4M · 325 accts · $882K emplr

2023$111.4M · 345 accts · $1.1M emplr

2022$90.7M · 357 accts · $1.4M emplr

Employer contributions to the Mbi, Inc. plan · 2023

Employer contribution per active participant$3,499

Median for plans this size$3,659

2024$3,095 per active participant

2023$3,499 per active participant

2022$4,205 per active participant

Mbi, Inc.'s 2023 employer contribution ran below the $3,659 median for plans its size. 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 history3

2024Not separately reported

2023Not separately reported

2022Not separately reported

All plans at this employer2

MBI, INC. PROFIT SHARING PLAN & TRUSTProfit-sharing plan

MBI, INC 401(K) PLAN401(k)

Same employer

Mbi, Inc.'s health & benefits plan: carriers, premiums & broker pay

Similar plansRetail Trade · Connecticut
Jennings Road Management Corp CT$149.5M · 0.20%
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Bh Shoe Holdings, Inc CT$117.8M · 0.19%
Stew Leonard's CT$115.3M · 0.14%
Ed Mitchell, Inc. CT$77.0M · 0.29%
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Source: U.S. Department of Labor, Form 5500 series, EIN 060902721 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.