Retirement plan

TURBO MACHINED PRODUCTS LLC 401(K) PROFIT SHARING PLAN AND TRUST

Name: TURBO MACHINED PRODUCTS LLC - TURBO MACHINED PRODUCTS LLC 401(K) PROFIT SHARING PLAN AND TRUST (2022) Form 5500
Creator: TURBO MACHINED PRODUCTS LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TURBO MACHINED PRODUCTS LLC 401(K) PROFIT SHARING PLAN AND TRUST, TURBO MACHINED PRODUCTS LLC

TURBO MACHINED PRODUCTS LLCEIN 16-1495060Plan #001PY 2022

102 INDUSTRIAL DR - FRANKFORT, NY 13340315-895-3010turbomp.comLinkedIn11-50 employeesaviation & aerospace

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.5M

-27.1% from 2021

Total participants

-5.9% from 2021

Average account balance

$25,956

-14.6% from 2021

Annual return

-12.34%

-24.11 pp from 2021

Benchmarks

See 14,494 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,494 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.08M

Not enough data

1 years with asset history on file

Average account balance

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

$38K

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.

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.

112.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$251K

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

+11.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4937

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$506K

$11506 / participant

Other / not subdivided$506K100.0%

% of EOY assets

33.628%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,956

$71,878-63.9%

$86,698-70.1%

$68,486-62.1%

Participation rate

86.4%

72.2%+14.1pp

76.6%+9.8pp

67.9%+18.5pp

Annual return

-12.34%

3.53%-15.9pp

35.95%-48.3pp

-7.85%-4.5pp

Employer contribution / active EE

$1,462

$2,173-32.7%

$2,837-48.5%

$2,597-43.7%

Participant deferral / active EE

$2,849

$3,779-24.6%

$4,656-38.8%

$4,028-29.3%

Admin fee / account holder

$8,729

$6,113+42.8%

$7,493+16.5%

$5,404+61.5%

TURBO MACHINED PRODUCTS LLC 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TURBO MACHINED PRODUCTS LLC 401(K) PROFIT SHARING PLAN AND TRUST

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