Retirement plan

TUMEQ, LLC 401(K) PLAN AND TRUST

Name: TUMEQ, LLC - TUMEQ, LLC 401(K) PLAN AND TRUST (2024) Form 5500
Creator: TUMEQ, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TUMEQ, LLC 401(K) PLAN AND TRUST, TUMEQ, LLC

TUMEQ, LLCEIN 27-2017426Plan #001PY 2024

900 WANDO PARK BLVD, SUITE 200 - MT PLEASANT, SC 29464843-856-2495

Prospect flagsHigh feesLow participationLow employer contribution

How to read this page

Total assets (EOY)

$19.9M

+20.5% from 2023

Total participants

407

+0.2% from 2023

Average account balance

$77,608

+11.6% from 2023

Annual return

17.09%

+0.83 pp from 2023

Benchmarks

See 1,547 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,547 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.87M

Not enough data

1 years with asset history on file

Average account balance

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

$78K

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.

256

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.

49.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.91M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+17.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$312

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 6 by compensation

Provider	Service type	Compensation
BOON ADMINISTRATIVE SERVICES INC8 years Filed as: BOON ADMINISTRATIVE SERVICES, INC. Service code 13 · EIN 33-0449333 6300 BRIDGEPOINT, PKWY · AUSTIN, TX 78730	Contract Administrator	$17,083
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE CO OF AME Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$12,425
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$3,763
DEFINITI LLC4 years Filed as: DEFINITI, LLC Service code 13 · EIN 85-0833363 3 HOLLAND ST · ERIE, PA 16507	Contract Administrator	$2,413
KESTRA INVESTMENT SERVICES LLC7 years Filed as: KESTRA ADVISORY SERVICES LLC Service code 27 5707 SW PKWY BLDG 2, STE 400 · AUSTIN, TX 78735	Advisory (Plan)	$1,111
BOON ADMINISTRATIVE SERVICES INC1 year Filed as: BOON INVESTMENT GROUP, INC Service code 99 · EIN 26-4561316	Other Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$80K

$267 / participant

Investment mgmt$14K17.6%
Contract admin$65K81.7%
Other / not subdivided$5500.7%

% of EOY assets

0.403%

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: BDO, USA, LLP
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$77,608

$129,227-39.9%

$184,256-57.9%

$77,762-0.2%

Participation rate

49.5%

87.4%-37.9pp

86.8%-37.3pp

70.6%-21.1pp

Annual return

17.09%

33.24%-16.2pp

28.85%-11.8pp

31.27%-14.2pp

Employer contribution / active EE

$1,724

$4,412-60.9%

$6,427-73.2%

$2,728-36.8%

Participant deferral / active EE

$4,679

$7,307-36.0%

$9,133-48.8%

$4,651+0.6%

Admin fee / account holder

$312

$256+22.2%

$13,899-97.8%

$433-27.8%

Provider

Service type

Compensation

BOON ADMINISTRATIVE SERVICES INC8 years

Filed as: BOON ADMINISTRATIVE SERVICES, INC.

Service code 13 · EIN 33-0449333

6300 BRIDGEPOINT, PKWY · AUSTIN, TX 78730

Contract Administrator

$17,083

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE CO OF AME

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$12,425

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$3,763

DEFINITI LLC4 years

Filed as: DEFINITI, LLC

Service code 13 · EIN 85-0833363

3 HOLLAND ST · ERIE, PA 16507

Contract Administrator

$2,413

KESTRA INVESTMENT SERVICES LLC7 years

Filed as: KESTRA ADVISORY SERVICES LLC

Service code 27

5707 SW PKWY BLDG 2, STE 400 · AUSTIN, TX 78735

Advisory (Plan)

$1,111

BOON ADMINISTRATIVE SERVICES INC1 year

Filed as: BOON INVESTMENT GROUP, INC

Service code 99 · EIN 26-4561316

Other Fees

TUMEQ, LLC 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TUMEQ, LLC 401(K) 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