Retirement plan

THERMO TECH 401K PLAN

Name: THERMO TECH MECHANICAL, INC - THERMO TECH 401K PLAN (2023) Form 5500
Creator: THERMO TECH MECHANICAL, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THERMO TECH 401K PLAN, THERMO TECH MECHANICAL, INC

THERMO TECH MECHANICAL, INCEIN 41-2098678Plan #001PY 2023

2323 HAVILAND AVENUE - BRONX, NY 10462718-991-5044thermotechmechanical.comLinkedIn11-50 employeesmechanical or industrial engineering

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$725K

+35.5% from 2022

Total participants

+36.4% from 2022

Average account balance

$48,355

-0.6% from 2022

Annual return

23.70%

+49.16 pp from 2022

Benchmarks

See 51,572 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort51,572 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$937K

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.

154.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$113K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+16.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1284

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 codes2E2F2J2T3D

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).
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

$20K

$2208 / participant

Other / not subdivided$20K100.0%

% of EOY assets

2.739%

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

$48,355

$106,247-54.5%

$96,515-49.9%

$139,466-65.3%

Participation rate

100.0%

77.8%+22.2pp

74.3%+25.7pp

80.3%+19.7pp

Annual return

23.70%

38.47%-14.8pp

35.73%-12.0pp

373.66%-350.0pp

Employer contribution / active EE

$3,119

$4,106-24.0%

$3,740-16.6%

$4,754-34.4%

Participant deferral / active EE

$6,127

$5,456+12.3%

$4,880+25.6%

$6,712-8.7%

Admin fee / account holder

$1,325

$7,885-83.2%

$6,735-80.3%

$11,409-88.4%

THERMO TECH 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THERMO TECH 401K 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