Retirement plan

TEST RITE PRODUCTS CORP 401(K) PLAN

Name: TEST RITE PRODUCTS CORP. - TEST RITE PRODUCTS CORP 401(K) PLAN (2024) 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 2024

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)

$11.4M

+16.4% from 2023

Total participants

289

+0.3% from 2023

Average account balance

$41,484

+15.6% from 2023

Annual return

14.86%

-2.99 pp from 2023

Benchmarks

See 2,351 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,351 peers

Snapshot2024

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

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY6 years Service code 64 · EIN 71-0294708	Recordkeeping Fees	$44,906
EQUITABLE ADVISORS LLC5 years Service code 99 · EIN 13-4071393	Other Fees	$27,106
PENSION ASSURANCE LLP1 year Service code 64 5126 CLARETON DRIVE · AGOURA HILLS, CA 91301	Recordkeeping Fees	$17,000

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

$64K

$420 / participant

Investment mgmt$2K3.2%
Contract admin$52K81.9%
Other / not subdivided$10K15.0%

% of EOY assets

0.560%

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

$41,484

$88,117-52.9%

$164,928-74.8%

$74,400-44.2%

Participation rate

90.8%

73.1%+17.7pp

78.6%+12.2pp

67.2%+23.6pp

Annual return

14.86%

17.27%-2.4pp

70.08%-55.2pp

1367.51%-1352.7pp

Employer contribution / active EE

$585

$2,596-77.5%

$4,343-86.5%

$2,624-77.7%

Participant deferral / active EE

$5,267

$4,501+17.0%

$6,034-12.7%

$4,348+21.1%

Admin fee / account holder

$232

$2,230-89.6%

$12,684-98.2%

$1,944-88.1%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY6 years

Service code 64 · EIN 71-0294708

Recordkeeping Fees

$44,906

EQUITABLE ADVISORS LLC5 years

Service code 99 · EIN 13-4071393

Other Fees

$27,106

PENSION ASSURANCE LLP1 year

Service code 64

5126 CLARETON DRIVE · AGOURA HILLS, CA 91301

Recordkeeping Fees

$17,000

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