Retirement plan

DUO-TEC TOOL CO., INC. PROFIT SHARING 401(K) PLAN

Name: DUO-TEC TOOL CO., INC. - DUO-TEC TOOL CO., INC. PROFIT SHARING 401(K) PLAN (2020) Form 5500
Creator: DUO-TEC TOOL CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DUO-TEC TOOL CO., INC. PROFIT SHARING 401(K) PLAN, DUO-TEC TOOL CO., INC.

DUO-TEC TOOL CO., INC.EIN 41-1388982Plan #001PY 2020

8550 REVERE LANE NORTH - MAPLE GROVE, MN 55369763-425-5005

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.4M

+19.6% from 2019

Total participants

+11.1% from 2019

Average account balance

$188,768

-0.4% from 2019

Annual return

15.16%

-5.37 pp from 2019

Benchmarks

See 21,446 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,446 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.98M

Not enough data

1 years with asset history on file

Average account balance

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

$234K

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

$184K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+14.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$20647

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

2 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).

Expense breakdown

Schedule H Part II

Admin total

$65K

$4078 / participant

Other / not subdivided$65K100.0%

% of EOY assets

1.920%

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

$188,768

$112,131+68.3%

$95,964+96.7%

$158,982+18.7%

Participation rate

87.5%

79.0%+8.5pp

77.1%+10.4pp

82.0%+5.5pp

Annual return

15.16%

171.19%-156.0pp

91.64%-76.5pp

302.99%-287.8pp

Employer contribution / active EE

$2,561

$3,199-19.9%

$2,541+0.8%

$4,763-46.2%

Participant deferral / active EE

$9,345

$4,784+95.3%

$4,167+124.3%

$5,983+56.2%

Admin fee / account holder

$3,625

$10,136-64.2%

$6,797-46.7%

$11,252-67.8%

DUO-TEC TOOL CO., INC. PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DUO-TEC TOOL CO., INC. PROFIT SHARING 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