Retirement plan

TWEET-GAROT MECHANICAL, INC. SELECT UNION 401(K) PLAN

Name: TWEET-GAROT MECHANICAL, INC. - TWEET-GAROT MECHANICAL, INC. SELECT UNION 401(K) PLAN (2023) Form 5500
Creator: TWEET-GAROT MECHANICAL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TWEET-GAROT MECHANICAL, INC. SELECT UNION 401(K) PLAN, TWEET-GAROT MECHANICAL, INC.

TWEET-GAROT MECHANICAL, INC.EIN 39-1194275Plan #003PY 2023

325 REID STREET - DE PERE, WI 54115920-498-7640tweetgarot.comLinkedIn501-1000 employeesconstruction

Other plans on this EIN

1 filing

#002Retirement-$14.0M assets

Prospect flagsHigh feesLow participationLow assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$71K

+841.5% from 2022

Total participants

+6.3% from 2022

Average account balance

$14,300

+1029.8% from 2022

Annual return

81.08%

+81.08 pp from 2022

Benchmarks

See 18,032 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,032 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$110K

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

8.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$37K

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

+15.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3612

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 codes2E2F2G2J2T3D

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.
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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$5K

$144 / participant

Other / not subdivided$5K100.0%

% of EOY assets

6.428%

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

$14,300

$73,988-80.7%

$96,538-85.2%

$75,177-81.0%

Participation rate

9.4%

66.4%-57.1pp

74.3%-65.0pp

67.2%-57.8pp

Annual return

81.08%

26.73%+54.4pp

35.74%+45.3pp

160.75%-79.7pp

Employer contribution / active EE

$2,930-100.0%

$3,740-100.0%

$2,671-100.0%

Participant deferral / active EE

$1,921

$3,660-47.5%

$4,880-60.6%

$4,126-53.4%

Admin fee / account holder

$919

$5,220-82.4%

$6,737-86.4%

$5,651-83.7%

TWEET-GAROT MECHANICAL, INC. SELECT UNION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TWEET-GAROT MECHANICAL, INC. SELECT UNION 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