Retirement plan

TONNA MECHANICAL, INC. 401(K) PLAN

Name: TONNA MECHANICAL, INC. - TONNA MECHANICAL, INC. 401(K) PLAN (2022) Form 5500
Creator: TONNA MECHANICAL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TONNA MECHANICAL, INC. 401(K) PLAN, TONNA MECHANICAL, INC.

TONNA MECHANICAL, INC.EIN 41-1269382Plan #001PY 2022

1440 INDUSTRIAL DRIVE NORTHWEST - ROCHESTER, MN 55901507-280-1908calltonna.comLinkedIn51-200 employeesconstruction

Prospect flagsHigh feesRecently reached 100 employeesLow fidelity bond

How to read this page

Total assets (EOY)

$3.8M

-25.6% from 2021

Total participants

134

+21.8% from 2021

Average account balance

$36,896

-36.5% from 2021

Annual return

-16.31%

-31.59 pp from 2021

Benchmarks

See 2,998 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,998 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.44M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

125.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$612K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+16.22%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5718

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

3 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).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$984K

$9278 / participant

Other / not subdivided$984K100.0%

% of EOY assets

25.879%

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

$36,896

$64,176-42.5%

$112,249-67.1%

$66,938-44.9%

Participation rate

70.8%

68.4%+2.3pp

75.1%-4.3pp

69.8%+0.9pp

Annual return

-16.31%

-13.80%-2.5pp

27.48%-43.8pp

1.58%-17.9pp

Employer contribution / active EE

$1,331

$3,007-55.7%

$3,636-63.4%

$2,545-47.7%

Participant deferral / active EE

$3,346

$3,694-9.4%

$4,729-29.2%

$4,238-21.0%

Admin fee / account holder

$9,549

$626+1425.8%

$6,412+48.9%

$594+1508.8%

TONNA MECHANICAL, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TONNA MECHANICAL, 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