Retirement plan

TEST RITE PRODUCTS CORP 401(K) PLAN

Name: TEST RITE PRODUCTS CORP. - TEST RITE PRODUCTS CORP 401(K) PLAN (2023) Form 5500
Creator: TEST RITE PRODUCTS CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TEST RITE PRODUCTS CORP 401(K) PLAN, TEST RITE PRODUCTS CORP.

TEST RITE PRODUCTS CORP.EIN 11-2461853Plan #001PY 2023

1900 S. BURGUNDY PLACE - ONTARIO, CA 91761909-605-9899LinkedIn51-200 employeescomputer software

Prospect flagsLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$9.8M

+21.3% from 2022

Total participants

288

+4.3% from 2022

Average account balance

$35,897

+9.3% from 2022

Annual return

17.85%

+34.97 pp from 2022

Benchmarks

See 2,346 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,346 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.41M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

275

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.

90.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$889K

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

+14.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$232

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY5 years Service code 15 · EIN 71-0294708	Recordkeeping	$70,031
EQUITABLE ADVISORS LLC4 years Service code 99 · EIN 13-4071393	Other Fees	$21,753

Plan features & details

Pension benefit codes2E2G2J2K3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$72K

$435 / participant

Investment mgmt$2K2.7%
Contract admin$40K56.0%
Other / not subdivided$30K41.4%

% of EOY assets

0.733%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PENSION ASSURANCE LLP
Auditor EIN: 300840934
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$35,897

$83,045-56.8%

$130,045-72.4%

$71,511-49.8%

Participation rate

90.9%

74.1%+16.8pp

78.5%+12.4pp

67.9%+23.0pp

Annual return

17.85%

20.61%-2.8pp

-137.30%+155.2pp

28.86%-11.0pp

Employer contribution / active EE

$641

$2,623-75.6%

$4,321-85.2%

$2,589-75.3%

Participant deferral / active EE

$4,702

$4,436+6.0%

$5,820-19.2%

$4,291+9.6%

Admin fee / account holder

$263

$1,727-84.8%

$10,600-97.5%

$1,588-83.4%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY5 years

Service code 15 · EIN 71-0294708

Recordkeeping

$70,031

EQUITABLE ADVISORS LLC4 years

Service code 99 · EIN 13-4071393

Other Fees

$21,753

TEST RITE PRODUCTS CORP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TEST RITE PRODUCTS CORP 401(K) 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