Retirement plan

T. & G. INDUSTRIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Name: T. & G. INDUSTRIES, INC. - T. & G. INDUSTRIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST (2023) Form 5500
Creator: T. & G. INDUSTRIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, T. & G. INDUSTRIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST, T. & G. INDUSTRIES, INC.

T. & G. INDUSTRIES, INC.EIN 11-2202153Plan #001PY 2023

120 3RD STREET - BROOKLYN, NY 11231917-708-2957

Prospect flagsLow employer contributionRecently reached 100 employeesFailed to transmit contributions

How to read this page

Total assets (EOY)

$27.3M

+514.6% from 2022

Total participants

411

+5037.5% from 2022

Average account balance

$69,709

-87.5% from 2022

Annual return

61.33%

+77.09 pp from 2022

Benchmarks

See 1,011 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort1,011 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$33.52M

Not enough data

1 years with asset history on file

Average account balance

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

$81K

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.

412

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.

95.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.24M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+19.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$248

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 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$49,792
RAYMOND JAMES FINANCIAL SERVICES1 year Service code 26 · EIN 59-1199408	Advisory (Participants)	$25,525
PAYCHEX, INC.8 years Service code 15 · EIN 16-1124166	Recordkeeping	$15,646

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$91K

$249 / participant

Contract admin$91K100.0%

% of EOY assets

0.335%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RUSSON + JOHNSTON CPAS
Auditor EIN: 300840934
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$69,709

$52,188+33.6%

$86,640-19.5%

$74,460-6.4%

Participation rate

94.8%

66.3%+28.5pp

71.7%+23.1pp

70.7%+24.1pp

Annual return

61.33%

44.46%+16.9pp

592.52%-531.2pp

34.38%+27.0pp

Employer contribution / active EE

$135

$2,282-94.1%

$3,024-95.5%

$2,638-94.9%

Participant deferral / active EE

$4,233

$3,383+25.1%

$4,438-4.6%

$4,530-6.6%

Admin fee / account holder

$233

$319-26.8%

$5,616-95.8%

$348-32.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$49,792

RAYMOND JAMES FINANCIAL SERVICES1 year

Service code 26 · EIN 59-1199408

Advisory (Participants)

$25,525

PAYCHEX, INC.8 years

Service code 15 · EIN 16-1124166

Recordkeeping

$15,646

T. & G. INDUSTRIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

T. & G. INDUSTRIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST

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