Retirement plan

THERMOCON, INC. PROFIT SHARING/401(K) PLAN

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

THERMOCON, INC.EIN 35-2267182Plan #001PY 2024

6871 DUTTON INDUSTRIAL DRIVE - DUTTON, MI 493168386616-698-7279

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.5M

+4.0% from 2023

Total participants

-6.8% from 2023

Average account balance

$90,760

+14.7% from 2023

Annual return

25.66%

+10.28 pp from 2023

Benchmarks

See 14,164 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,164 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.89M

Not enough data

1 years with asset history on file

Average account balance

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

$95K

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.

132.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$352K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+10.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9552

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 codes2E2F2G2J3D

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.
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

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

$1.1M

$37447 / participant

Other / not subdivided$1M100.0%

% of EOY assets

30.680%

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

$90,760

$86,938+4.4%

$102,423-11.4%

$80,925+12.2%

Participation rate

93.1%

72.4%+20.7pp

76.5%+16.6pp

67.7%+25.4pp

Annual return

25.66%

18.89%+6.8pp

29.42%-3.8pp

35.65%-10.0pp

Employer contribution / active EE

$3,525

$2,369+48.8%

$3,023+16.6%

$2,756+27.9%

Participant deferral / active EE

$7,699

$4,120+86.8%

$5,054+52.3%

$4,299+79.1%

Admin fee / account holder

$27,845

$8,053+245.8%

$9,455+194.5%

$6,940+301.2%

THERMOCON, INC. PROFIT SHARING/401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THERMOCON, INC. PROFIT SHARING/401(K) 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