Retirement plan

TAYLOR DEVICES, INC. 401(K) PLAN

Name: TAYLOR DEVICES, INC. - TAYLOR DEVICES, INC. 401(K) PLAN (2022) Form 5500
Creator: TAYLOR DEVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TAYLOR DEVICES, INC. 401(K) PLAN, TAYLOR DEVICES, INC.

TAYLOR DEVICES, INC.EIN 16-0797789Plan #001PY 2022

90 TAYLOR DRIVE - NORTH TONAWANDA, NY 141206832716-694-1124taylordevices.comLinkedIn51-200 employeescivil engineering

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$12.9M

-9.8% from 2021

Total participants

151

+4.1% from 2021

Average account balance

$87,437

-12.2% from 2021

Annual return

-16.92%

-29.30 pp from 2021

Benchmarks

See 4,068 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,068 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$18.55M

Not enough data

1 years with asset history on file

Average account balance

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

$112K

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.

165

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.

96.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.77M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+15.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$392

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
FIDELITY INVESTMENTS INSTITUTIONAL4 years Service code 37 · EIN 04-2647786	Loan Processing	$27,462
LAWLEY RETIREMENT ADVISORS LLC1 year Service code 27 · EIN 27-4034238	Advisory (Plan)	$22,500
CADARET GRANT & CO INC4 years Service code 27 · EIN 22-2361254	Advisory (Plan)	$7,500

Plan features & details

Pension benefit codes2F2G2J2K3D2E

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$57K

$456 / participant

Other / not subdivided$57K100.0%

% of EOY assets

0.447%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LUMSDEN & MCCORMICK, LLP
Auditor EIN: 160765486
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$87,437

$65,437+33.6%

$86,698+0.9%

$66,949+30.6%

Participation rate

96.8%

75.5%+21.4pp

76.6%+20.2pp

69.8%+27.0pp

Annual return

-16.92%

-10.91%-6.0pp

35.96%-52.9pp

1.57%-18.5pp

Employer contribution / active EE

$2,912

$2,154+35.2%

$2,837+2.6%

$2,545+14.4%

Participant deferral / active EE

$8,345

$4,102+103.4%

$4,656+79.2%

$4,239+96.9%

Admin fee / account holder

$391

$642-39.1%

$7,492-94.8%

$594-34.1%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL4 years

Service code 37 · EIN 04-2647786

Loan Processing

$27,462

LAWLEY RETIREMENT ADVISORS LLC1 year

Service code 27 · EIN 27-4034238

Advisory (Plan)

$22,500

CADARET GRANT & CO INC4 years

Service code 27 · EIN 22-2361254

Advisory (Plan)

$7,500

TAYLOR DEVICES, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TAYLOR DEVICES, INC. 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