Retirement plan

TAVO PACKAGING, INC. 401(K) PROFIT SHARING PLAN

Name: TAVO PACKAGING, INC. - TAVO PACKAGING, INC. 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: TAVO PACKAGING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TAVO PACKAGING, INC. 401(K) PROFIT SHARING PLAN, TAVO PACKAGING, INC.

TAVO PACKAGING, INC.EIN 23-2050512Plan #001PY 2020

2 CANAL ROAD - FAIRLESS HILLS, PA 19030215-428-0900tavopackaging.comLinkedIn51-200 employeespackaging and containers

Prospect flagsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$4.5M

+18.0% from 2019

Total participants

130

0.0% from 2019

Average account balance

$36,270

+20.9% from 2019

Annual return

12.63%

-6.38 pp from 2019

Benchmarks

See 1,894 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,894 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.25M

Not enough data

1 years with asset history on file

Average account balance

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

$36K

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.

176

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.

97.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$764K

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

+16.40%

Not enough data

1 years with return on file

Admin fee / account holder

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

$258

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 2 by compensation

Provider	Service type	Compensation
CREATIVE PLANNING LLC2 years Filed as: CREATIVE PLANNING, INC. Service code 26 · EIN 43-1270780	Advisory (Participants)	$27,144
LT TRUST COMPANY2 years Filed as: LT TRUST Service code 12 · EIN 61-1607607	Recordkeeping and information managem...	$10,309

Plan features & details

Pension benefit codes2E2J2K2F2G3D

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$37K

$364 / participant

Investment mgmt$27K72.5%
Other / not subdivided$10K27.5%

% of EOY assets

0.840%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: STEPHANO SLACK LLC
Auditor EIN: 161710665
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,270

$70,917-48.9%

$98,916-63.3%

$73,493-50.6%

Participation rate

93.2%

73.8%+19.4pp

76.0%+17.2pp

70.7%+22.5pp

Annual return

12.63%

34.18%-21.6pp

196.45%-183.8pp

28.51%-15.9pp

Employer contribution / active EE

$824

$2,037-59.6%

$2,689-69.4%

$2,270-63.7%

Participant deferral / active EE

$2,900

$3,501-17.2%

$4,245-31.7%

$3,740-22.4%

Admin fee / account holder

$304

$535-43.1%

$6,642-95.4%

$513-40.7%

Provider

Service type

Compensation

CREATIVE PLANNING LLC2 years

Filed as: CREATIVE PLANNING, INC.

Service code 26 · EIN 43-1270780

Advisory (Participants)

$27,144

LT TRUST COMPANY2 years

Filed as: LT TRUST

Service code 12 · EIN 61-1607607

Recordkeeping and information managem...

$10,309

TAVO PACKAGING, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TAVO PACKAGING, 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