Retirement plan

TWO HARBORS MACHINE SHOP, INC. EMPLOYEES' PROFIT SHARING PLAN

Name: TWO HARBORS MACHINE SHOP, INC. - TWO HARBORS MACHINE SHOP, INC. EMPLOYEES' PROFIT SHARING PLAN (2019) Form 5500
Creator: TWO HARBORS MACHINE SHOP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TWO HARBORS MACHINE SHOP, INC. EMPLOYEES' PROFIT SHARING PLAN, TWO HARBORS MACHINE SHOP, INC.

TWO HARBORS MACHINE SHOP, INC.EIN 41-1236458Plan #001PY 2019

511 25TH AVENUE - TWO HARBORS, MN 55616218-834-5118LinkedIn51-200 employeeselectrical/electronic manufacturing

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$7.2M

-0.6% from 2018

Total participants

107

-4.5% from 2018

Average account balance

$70,818

+0.4% from 2018

Annual return

0.44%

-7.38 pp from 2018

Benchmarks

See 14,957 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,957 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.63M

Not enough data

1 years with asset history on file

Average account balance

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

$66K

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.

98.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$512K

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

+13.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$20393

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 codes2E2F2G2J3D2T

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

2 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.

Expense breakdown

Schedule H Part II

Admin total

$531K

$5835 / participant

Other / not subdivided$531K100.0%

% of EOY assets

7.351%

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

$70,818

$72,492-2.3%

$87,104-18.7%

$72,975-3.0%

Participation rate

94.5%

72.8%+21.7pp

76.9%+17.6pp

69.5%+25.0pp

Annual return

0.44%

24.46%-24.0pp

28.19%-27.7pp

81.01%-80.6pp

Employer contribution / active EE

$2,198

$1,894+16.0%

$2,521-12.8%

$2,440-9.9%

Participant deferral / active EE

$2,495

$3,270-23.7%

$4,048-38.4%

$3,608-30.8%

Admin fee / account holder

$5,206

$5,055+3.0%

$7,491-30.5%

$5,124+1.6%

TWO HARBORS MACHINE SHOP, INC. EMPLOYEES' PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TWO HARBORS MACHINE SHOP, INC. EMPLOYEES' 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