Retirement plan

TAPECON, INC. 401(K) PROFIT SHARING PLAN

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

TAPECON, INC.EIN 16-1209084Plan #001PY 2023

701 SENECA STREET - BUFFALO, NY 142101351716-854-1322tapecon.comLinkedIn51-200 employeesprinting

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$9.4M

+10.7% from 2022

Total participants

160

+3.9% from 2022

Average account balance

$62,074

+3.4% from 2022

Annual return

14.00%

+28.22 pp from 2022

Benchmarks

See 1,940 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,940 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.28M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

142

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.

97.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$479K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 4 by compensation

Provider	Service type	Compensation
EDWARD JONES9+ years Filed as: EDWARD D JONES & CO L P Service code 27 · EIN 43-0345811 12555 MANCHESTER ROAD · ST. LOUIS, MO 63131	Advisory (Plan)	$16,329
LIFETIME BENEFIT SOLUTIONS9+ years Filed as: LIFETIME BENEFIT SOLUTIONS, INC. Service code 13 · EIN 16-1171765 333 BUTTERNUT DRIVE · SYRACUSE, NY 13214	Contract Administrator	$7,261
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER LIFE & ANNUITY INSURANCE Service code 64 · EIN 84-0467907	Recordkeeping Fees	$1,483
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 · EIN 84-1532243	Investment Management	$67

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$3K

$24 / participant

Contract admin$3K100.0%

% of EOY assets

0.027%

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: CHIAMPOU TRAVIS BESAW KERSHNER LLP
Auditor EIN: 161468002
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$62,074

$71,523-13.2%

$98,461-37.0%

$71,511-13.2%

Participation rate

92.5%

72.7%+19.8pp

75.2%+17.3pp

67.9%+24.5pp

Annual return

14.00%

32.43%-18.4pp

21.17%-7.2pp

28.86%-14.9pp

Employer contribution / active EE

$874

$2,399-63.6%

$3,049-71.3%

$2,589-66.2%

Participant deferral / active EE

$3,697

$4,109-10.0%

$4,738-22.0%

$4,291-13.8%

Admin fee / account holder

$17

$1,676-99.0%

$8,961-99.8%

$1,588-98.9%

Provider

Service type

Compensation

EDWARD JONES9+ years

Filed as: EDWARD D JONES & CO L P

Service code 27 · EIN 43-0345811

12555 MANCHESTER ROAD · ST. LOUIS, MO 63131

Advisory (Plan)

$16,329

LIFETIME BENEFIT SOLUTIONS9+ years

Filed as: LIFETIME BENEFIT SOLUTIONS, INC.

Service code 13 · EIN 16-1171765

333 BUTTERNUT DRIVE · SYRACUSE, NY 13214

Contract Administrator

$7,261

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER LIFE & ANNUITY INSURANCE

Service code 64 · EIN 84-0467907

Recordkeeping Fees

$1,483

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28 · EIN 84-1532243

Investment Management

$67

TAPECON, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TAPECON, INC. 401(K) PROFIT SHARING 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