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 (2022) 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 2022

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$7.7M

-19.0% from 2021

Total participants

-14.3% from 2021

Average account balance

$87,780

+2.2% from 2021

Annual return

-4.33%

-31.64 pp from 2021

Benchmarks

See 14,494 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,494 peers

Snapshot2022

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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$1.9M

$21352 / participant

Other / not subdivided$2M100.0%

% of EOY assets

24.602%

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

$87,780

$71,878+22.1%

$86,698+1.2%

$68,486+28.2%

Participation rate

91.0%

72.2%+18.8pp

76.6%+14.4pp

67.9%+23.1pp

Annual return

-4.33%

3.53%-7.9pp

35.95%-40.3pp

-7.85%+3.5pp

Employer contribution / active EE

$2,209

$2,173+1.6%

$2,837-22.1%

$2,597-14.9%

Participant deferral / active EE

$2,845

$3,779-24.7%

$4,656-38.9%

$4,028-29.4%

Admin fee / account holder

$21,595

$6,113+253.3%

$7,493+188.2%

$5,404+299.6%

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