Retirement plan

THOMAS ELECTRONICS, INC. 401(K) SAVINGS PLAN

Name: THOMAS ELECTRONICS, INC. - THOMAS ELECTRONICS, INC. 401(K) SAVINGS PLAN (2024) Form 5500
Creator: THOMAS ELECTRONICS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THOMAS ELECTRONICS, INC. 401(K) SAVINGS PLAN, THOMAS ELECTRONICS, INC.

THOMAS ELECTRONICS, INC.EIN 16-1071442Plan #002PY 2024

208 DAVIS PARKWAY - CLYDE, NY 14433315-923-2051thomaselectronics.comLinkedIn51-200 employeeselectrical/electronic manufacturing

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$7.7M

+19.6% from 2023

Total participants

160

+4.6% from 2023

Average account balance

$60,995

+12.0% from 2023

Annual return

19.33%

+4.96 pp from 2023

Benchmarks

See 4,101 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,101 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.75M

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

127

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.

73.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$504K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+19.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$301

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 INSTITUTIONAL10+ years Service code 37 · EIN 04-2647786 OPERATIONS COMPANY, INC - FIIOC · CINCINNATI, OH 452770082	Loan Processing	$18,937
ALLIANCE PENSION CONSULTANTS, LLC5 years Filed as: ALLIANT RETIREMENT SERVICES Service code 27 · EIN 33-0785439 101 PARK AVE · NEW YORK, NY 10178	Advisory (Plan)	$13,041
FLAHERTY SALMIN, LLP7 years Service code 10 · EIN 16-1451346 2300 BUFFALO ROAD · ROCHESTER, NY 14624	Accounting	$6,250

Plan features & details

Pension benefit codes2E2F2G2J2K3D3F

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

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

$38K

$303 / participant

Recordkeeping$19K49.5%
Investment mgmt$13K34.1%
Other / not subdivided$6K16.3%

% of EOY assets

0.493%

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: FLAHERTY SALMIN, LLP
Auditor EIN: 161451346
Audit fees: $6,250
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$60,995

$79,209-23.0%

$102,434-40.5%

$74,459-18.1%

Participation rate

73.8%

74.8%-1.0pp

76.5%-2.7pp

67.2%+6.6pp

Annual return

19.33%

54.98%-35.7pp

29.46%-10.1pp

1369.70%-1350.4pp

Employer contribution / active EE

$1,077

$2,362-54.4%

$3,023-64.4%

$2,626-59.0%

Participant deferral / active EE

$2,924

$4,417-33.8%

$5,055-42.1%

$4,350-32.8%

Admin fee / account holder

$301

$2,002-85.0%

$9,462-96.8%

$1,945-84.5%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL10+ years

Service code 37 · EIN 04-2647786

OPERATIONS COMPANY, INC - FIIOC · CINCINNATI, OH 452770082

Loan Processing

$18,937

ALLIANCE PENSION CONSULTANTS, LLC5 years

Filed as: ALLIANT RETIREMENT SERVICES

Service code 27 · EIN 33-0785439

101 PARK AVE · NEW YORK, NY 10178

Advisory (Plan)

$13,041

FLAHERTY SALMIN, LLP7 years

Service code 10 · EIN 16-1451346

2300 BUFFALO ROAD · ROCHESTER, NY 14624

Accounting

$6,250

THOMAS ELECTRONICS, INC. 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THOMAS ELECTRONICS, INC. 401(K) SAVINGS 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