Retirement plan

TW SOMMER COMPANY PROFIT SHARING PLAN

Name: T.W. SOMMER CO. - TW SOMMER COMPANY PROFIT SHARING PLAN (2023) Form 5500
Creator: T.W. SOMMER CO.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TW SOMMER COMPANY PROFIT SHARING PLAN, T.W. SOMMER CO.

T.W. SOMMER CO.EIN 41-0856476Plan #001PY 2023

470 WEST HIGHWAY 96 SUITE 220 - SHOREVIEW, MN 551261901651-481-1206LinkedIn1-10 employeesbuilding materials

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$6.2M

+30.2% from 2022

Total participants

0.0% from 2022

Average account balance

$1,544,845

No prior year

Annual return

25.99%

+40.27 pp from 2022

Benchmarks

See 8,682 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort8,682 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.19M

Not enough data

1 years with asset history on file

Average account balance

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

$1.8M

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$260K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$52K

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

+14.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4908

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 codes2E2F2H2J2R2T3D

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$25K

$6354 / participant

Other / not subdivided$25K100.0%

% of EOY assets

0.411%

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

$1,544,845

$118,488+1203.8%

$98,462+1469.0%

$139,487+1007.5%

Participation rate

100.0%

77.5%+22.5pp

75.2%+24.8pp

80.3%+19.7pp

Annual return

25.99%

18.96%+7.0pp

21.17%+4.8pp

373.84%-347.9pp

Employer contribution / active EE

$47,644

$3,611+1219.6%

$3,049+1462.7%

$4,755+902.0%

Participant deferral / active EE

$2,775

$5,393-48.5%

$4,738-41.4%

$6,713-58.7%

Admin fee / account holder

$6,354

$13,868-54.2%

$8,875-28.4%

$11,407-44.3%

TW SOMMER COMPANY PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TW SOMMER COMPANY 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