Retirement plan

TRUE AIR MECHANICAL, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Name: TRUE AIR MECHANICAL, INC. - TRUE AIR MECHANICAL, INC. EMPLOYEE STOCK OWNERSHIP PLAN (2023) Form 5500
Creator: TRUE AIR MECHANICAL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TRUE AIR MECHANICAL, INC. EMPLOYEE STOCK OWNERSHIP PLAN, TRUE AIR MECHANICAL, INC.

TRUE AIR MECHANICAL, INC.EIN 27-3944870Plan #002PY 2023

1801 CALIFORNIA AVE - CORONA, CA 92881949-382-6337trueairinc.comLinkedIn51-200 employeesindividual & family services

Other plans on this EIN

1 filing

#001Retirement-$3.5M assets

Prospect flagsLow fidelity bondFailed to provide benefit

How to read this page

Total assets (EOY)

$23.5M

+113.4% from 2022

Total participants

249

+0.8% from 2022

Average account balance

$117,442

+151.8% from 2022

Annual return

80.22%

+107.42 pp from 2022

Benchmarks

See 3,251 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,251 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$32.23M

Not enough data

1 years with asset history on file

Average account balance

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

$133K

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.

243

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.

77.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.50M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+18.27%

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

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 codes2I2P3I

Plan features

2I
Stock bonus
Stock bonus plan.
2P
Leveraged ESOP
Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

2 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HUSELTON, MORGAN & MAULTSBY, PC
Auditor EIN: 752409112
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$117,442

$76,696+53.1%

$96,538+21.7%

$71,529+64.2%

Participation rate

76.3%

66.6%+9.8pp

74.3%+2.0pp

67.9%+8.4pp

Annual return

80.22%

48.32%+31.9pp

35.74%+44.5pp

28.97%+51.2pp

Employer contribution / active EE

$17,787

$3,032+486.7%

$3,740+375.6%

$2,590+586.8%

Participant deferral / active EE

$3,770-100.0%

$4,880-100.0%

$4,291-100.0%

Admin fee / account holder

$2,030-100.0%

$6,737-100.0%

$1,588-100.0%

TRUE AIR MECHANICAL, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

TRUE AIR MECHANICAL, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion