Retirement plan

TOMENSON MACHINE WORKS, INC. 401(K) PLAN

Name: TOMENSON MACHINE WORKS, INC. - TOMENSON MACHINE WORKS, INC. 401(K) PLAN (2020) Form 5500
Creator: TOMENSON MACHINE WORKS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TOMENSON MACHINE WORKS, INC. 401(K) PLAN, TOMENSON MACHINE WORKS, INC.

TOMENSON MACHINE WORKS, INC.EIN 36-4056804Plan #002PY 2020

1150 POWIS ROAD - WEST CHICAGO, IL 60185630-377-7670tomenson.comLinkedIn51-200 employeesmechanical or industrial engineering

Other plans on this EIN

1 filing

#003Retirement-$223K assets

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.4M

-0.4% from 2019

Total participants

-30.8% from 2019

Average account balance

$168,965

+61.8% from 2019

Annual return

3.98%

-19.16 pp from 2019

Benchmarks

See 21,456 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,456 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.60M

Not enough data

1 years with asset history on file

Average account balance

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

$52K

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.

113.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$244K

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

+15.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$388

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$129K

$21473 / participant

Other / not subdivided$129K100.0%

% of EOY assets

9.531%

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

$168,965

$112,099+50.7%

$95,954+76.1%

$158,931+6.3%

Participation rate

83.3%

79.0%+4.4pp

77.1%+6.3pp

82.0%+1.4pp

Annual return

3.98%

171.12%-167.1pp

91.62%-87.6pp

302.86%-298.9pp

Employer contribution / active EE

$3,302

$3,198+3.2%

$2,541+29.9%

$4,761-30.7%

Participant deferral / active EE

$7,192

$4,784+50.3%

$4,167+72.6%

$5,982+20.2%

Admin fee / account holder

$16,105

$10,132+59.0%

$6,796+137.0%

$11,247+43.2%

TOMENSON MACHINE WORKS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TOMENSON MACHINE WORKS, INC. 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