Retirement plan

THERMO KING MIDWEST, INC. 401(K) PROFIT SHARING PLAN

Name: THERMO KING MIDWEST, INC. - THERMO KING MIDWEST, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: THERMO KING MIDWEST, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THERMO KING MIDWEST, INC. 401(K) PROFIT SHARING PLAN, THERMO KING MIDWEST, INC.

THERMO KING MIDWEST, INC.EIN 35-1007407Plan #002PY 2024

817 SOUTH TIBBS - INDIANAPOLIS, IN 46241317-247-4002LinkedIn51-200 employees

Prospect flagsLow returnsLow participationRecently reached 100 employeesFailed to transmit contributions

How to read this page

Total assets (EOY)

$7.8M

+16.8% from 2023

Total participants

149

+13.7% from 2023

Average account balance

$76,696

+13.4% from 2023

Annual return

11.22%

-3.86 pp from 2023

Benchmarks

See 2,067 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort2,067 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$7.82M

Not enough data

1 years with asset history on file

Average account balance

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

$77K

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.

102

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.

65.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$517K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+11.22%

Not enough data

1 years with return on file

Admin fee / account holder

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

$276

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH2 years Service code 17 · EIN 13-5674085	Pension Consulting	$17,232
PRINCIPAL LIFE INSURANCE COMPANY4 years Service code 13 · EIN 42-0127290	Contract Administrator	$9,986
MORNINGSTAR2 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26	Advisory (Participants)	$0
MORNINGSTAR3 years Filed as: MORNINGSTAR INVESTMENT MGMT LLC Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$28K

$207 / participant

Investment mgmt$7K24.5%
Contract admin$11K38.8%
Other / not subdivided$10K36.7%

% of EOY assets

0.360%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BLUE & CO., LLC
Auditor EIN: 351178661
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$76,696

$60,323+27.1%

$81,812-6.3%

$74,495+3.0%

Participation rate

65.4%

62.9%+2.6pp

72.3%-6.9pp

67.2%-1.8pp

Annual return

11.22%

16.90%-5.7pp

773.79%-762.6pp

1364.94%-1353.7pp

Employer contribution / active EE

$999

$2,620-61.9%

$2,912-65.7%

$2,623-61.9%

Participant deferral / active EE

$2,806

$3,387-17.2%

$4,319-35.0%

$4,346-35.4%

Admin fee / account holder

$276

$1,486-81.4%

$7,386-96.3%

$1,942-85.8%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH2 years

Service code 17 · EIN 13-5674085

Pension Consulting

$17,232

PRINCIPAL LIFE INSURANCE COMPANY4 years

Service code 13 · EIN 42-0127290

Contract Administrator

$9,986

MORNINGSTAR2 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26

Advisory (Participants)

MORNINGSTAR3 years

Filed as: MORNINGSTAR INVESTMENT MGMT LLC

Service code 26 · EIN 36-4317381

Advisory (Participants)

THERMO KING MIDWEST, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THERMO KING MIDWEST, 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