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 (2021) 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 2021

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

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$3.2M

-4.7% from 2020

Total participants

-5.0% from 2020

Average account balance

$231,250

+22.5% from 2020

Annual return

15.04%

-0.12 pp from 2020

Benchmarks

See 21,791 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,791 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.74M

Not enough data

1 years with asset history on file

Average account balance

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

$279K

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

$188K

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

+14.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$742

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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$832K

$52005 / participant

Other / not subdivided$832K100.0%

% of EOY assets

25.701%

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

$231,250

$124,336+86.0%

$111,303+107.8%

$167,518+38.0%

Participation rate

68.8%

79.6%-10.9pp

77.3%-8.6pp

82.1%-13.4pp

Annual return

15.04%

37.45%-22.4pp

54.66%-39.6pp

478.71%-463.7pp

Employer contribution / active EE

$2,590

$3,436-24.6%

$2,731-5.2%

$4,838-46.5%

Participant deferral / active EE

$7,444

$5,181+43.7%

$4,487+65.9%

$6,342+17.4%

Admin fee / account holder

$59,434

$10,623+459.5%

$7,966+646.1%

$12,312+382.7%

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