Retirement plan

TRI-CITY ELECTRIC COMPANY OF IOWA PROFIT SHARING 401(K) PLAN

Name: TRI-CITY ELECTRIC COMPANY OF IOWA - TRI-CITY ELECTRIC COMPANY OF IOWA PROFIT SHARING 401(K) PLAN (2021) Form 5500
Creator: TRI-CITY ELECTRIC COMPANY OF IOWA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TRI-CITY ELECTRIC COMPANY OF IOWA PROFIT SHARING 401(K) PLAN, TRI-CITY ELECTRIC COMPANY OF IOWA

TRI-CITY ELECTRIC COMPANY OF IOWAEIN 42-0569050Plan #005PY 2021

6225 N. BRADY STREET - DAVENPORT, IA 52806563-322-7181LinkedIn11-50 employeeselectrical/electronic manufacturing

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$20.4M

+27.4% from 2020

Total participants

179

+17.0% from 2020

Average account balance

$123,137

+9.8% from 2020

Annual return

23.23%

+11.49 pp from 2020

Benchmarks

See 4,053 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,053 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$25.99M

Not enough data

1 years with asset history on file

Average account balance

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

$103K

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.

252

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.

96.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.46M

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

+31.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$309

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.4 years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 49 · EIN 04-1590850 1295 STATE STREET · SPRINGFIELD, MA 011110001	Other Services	$95,617
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO ADVISORS, LLC Service code 27 · EIN 34-1542819	Advisory (Plan)	$64,218
LWBJ, LLP3 years Service code 10 · EIN 42-1462849 4200 UNIVERSITY AVENUE, SUITE 410 · WEST DES MOINES, IA 50266	Accounting	$6,800
GREAT-WEST LIFE & ANNUITY INSURANCE4 years Filed as: DYATECH Service code 13 · EIN 64-0936231 381 HIGHLAND COLONY PARKWAY · RIDGELAND, MS 39157	Contract Administrator	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

$102K

$737 / participant

Other / not subdivided$102K100.0%

% of EOY assets

0.501%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: UHY LLP
Auditor EIN: 200694403
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$123,137

$84,940+45.0%

$111,306+10.6%

$79,389+55.1%

Participation rate

90.6%

75.9%+14.8pp

77.3%+13.3pp

70.7%+19.9pp

Annual return

23.23%

17.45%+5.8pp

54.67%-31.4pp

116.89%-93.7pp

Employer contribution / active EE

$3,020

$1,979+52.6%

$2,732+10.6%

$2,428+24.4%

Participant deferral / active EE

$7,138

$3,889+83.6%

$4,488+59.1%

$4,046+76.4%

Admin fee / account holder

$617

$537+14.8%

$7,966-92.3%

$626-1.5%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.4 years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 49 · EIN 04-1590850

1295 STATE STREET · SPRINGFIELD, MA 011110001

Other Services

$95,617

WELLS FARGO BANK, N.A.1 year

Filed as: WELLS FARGO ADVISORS, LLC

Service code 27 · EIN 34-1542819

Advisory (Plan)

$64,218

LWBJ, LLP3 years

Service code 10 · EIN 42-1462849

4200 UNIVERSITY AVENUE, SUITE 410 · WEST DES MOINES, IA 50266

Accounting

$6,800

GREAT-WEST LIFE & ANNUITY INSURANCE4 years

Filed as: DYATECH

Service code 13 · EIN 64-0936231

381 HIGHLAND COLONY PARKWAY · RIDGELAND, MS 39157

Contract Administrator

TRI-CITY ELECTRIC COMPANY OF IOWA PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TRI-CITY ELECTRIC COMPANY OF IOWA 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