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 (2023) 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 2023

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$19.4M

+25.6% from 2022

Total participants

214

+10.9% from 2022

Average account balance

$98,557

+14.1% from 2022

Annual return

16.11%

+31.67 pp from 2022

Benchmarks

See 4,137 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,137 peers

Snapshot2023

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$82,849
WELLS FARGO BANK, N.A.3 years Filed as: WELLS FARGO ADVISORS, LLC Service code 27 · EIN 34-1542819 401 S TRYON ST 11TH FLOOR · CHARLOTTE, NC 28081	Advisory (Plan)	$61,589
UHY LLP2 years Service code 10 · EIN 20-0694403 12 GREENWAY PLAZA, SUITE 1202 · HOUSTON, TX 77046	Accounting	$13,900
MASSACHUSETTS MUTUAL LIFE INS. CO.6 years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 62 · EIN 04-1590850 1295 STATE STREET · SPRINGFIELD, MA 011110001	Float revenue; Recordkeeping fees	$6,552
GREAT-WEST LIFE & ANNUITY INSURANCE6 years Filed as: DYATECH Service code 13 · EIN 64-0936231 381 HIGHLAND COLONY PARKWAY · RIDGELAND, MS 39157	Contract Administrator	$1,435

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

$595 / participant

Other / not subdivided$102K100.0%

% of EOY assets

0.524%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$98,557

$76,112+29.5%

$96,544+2.1%

$71,529+37.8%

Participation rate

90.1%

74.4%+15.7pp

76.0%+14.1pp

67.9%+22.1pp

Annual return

16.11%

22.80%-6.7pp

25.88%-9.8pp

28.97%-12.9pp

Employer contribution / active EE

$3,485

$2,248+55.0%

$2,966+17.5%

$2,590+34.5%

Participant deferral / active EE

$6,924

$4,217+64.2%

$4,851+42.7%

$4,291+61.3%

Admin fee / account holder

$516

$2,708-80.9%

$8,254-93.7%

$1,588-67.5%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$82,849

WELLS FARGO BANK, N.A.3 years

Filed as: WELLS FARGO ADVISORS, LLC

Service code 27 · EIN 34-1542819

401 S TRYON ST 11TH FLOOR · CHARLOTTE, NC 28081

Advisory (Plan)

$61,589

UHY LLP2 years

Service code 10 · EIN 20-0694403

12 GREENWAY PLAZA, SUITE 1202 · HOUSTON, TX 77046

Accounting

$13,900

MASSACHUSETTS MUTUAL LIFE INS. CO.6 years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 62 · EIN 04-1590850

1295 STATE STREET · SPRINGFIELD, MA 011110001

Float revenue; Recordkeeping fees

$6,552

GREAT-WEST LIFE & ANNUITY INSURANCE6 years

Filed as: DYATECH

Service code 13 · EIN 64-0936231

381 HIGHLAND COLONY PARKWAY · RIDGELAND, MS 39157

Contract Administrator

$1,435

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