Retirement plan

TOMENSON MACHINE WORKS, INC. 401(K) PLAN

Name: TOMENSON MACHINE WORKS, INC. - TOMENSON MACHINE WORKS, INC. 401(K) PLAN (2022) 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 2022

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

Other plans on this EIN

1 filing

#003Retirement-$235K assets

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$927K

-13.0% from 2021

Total participants

+20.0% from 2021

Average account balance

$185,446

-13.0% from 2021

Annual return

-18.81%

-19.12 pp from 2021

Benchmarks

See 22,362 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,362 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.04M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

95.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$70K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+65.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$68

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

$3K

$575 / participant

Other / not subdivided$3K100.0%

% of EOY assets

0.310%

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

$185,446

$100,811+84.0%

$86,698+113.9%

$134,545+37.8%

Participation rate

80.0%

79.0%+1.0pp

76.6%+3.4pp

81.2%-1.2pp

Annual return

-18.81%

29.11%-47.9pp

35.96%-54.8pp

418.37%-437.2pp

Employer contribution / active EE

$4,051

$3,490+16.1%

$2,837+42.8%

$4,742-14.6%

Participant deferral / active EE

$8,849

$5,339+65.7%

$4,656+90.0%

$6,401+38.2%

Admin fee / account holder

$575

$10,926-94.7%

$7,492-92.3%

$11,431-95.0%

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