Retirement plan

TURNAGE MOTOR COMPANY 401K PLAN

Name: TURNAGE MOTOR COMPANY - TURNAGE MOTOR COMPANY 401K PLAN (2022) Form 5500
Creator: TURNAGE MOTOR COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TURNAGE MOTOR COMPANY 401K PLAN, TURNAGE MOTOR COMPANY

TURNAGE MOTOR COMPANYEIN 45-3217022Plan #001PY 2022

4637 AUGUSTA ROAD - LEXINGTON, SC 29073803-853-4300turnagemotorco.comLinkedIn1-10 employees

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$31K

No prior year

Total participants

No prior year

Average account balance

$5,241

No prior year

Annual return

0.00%

No prior year

Benchmarks

See 21,409 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort21,409 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$150K

Not enough data

1 years with asset history on file

Average account balance

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

$21K

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.

70.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$48K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+18.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$108

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 codes2E2J2F2G2R3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

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

$5,241

$95,915-94.5%

$79,580-93.4%

$134,532-96.1%

Participation rate

100.0%

75.0%+25.0pp

69.5%+30.5pp

81.2%+18.8pp

Annual return

0.00%

-2.71%+2.7pp

0.15%-0.2pp

418.27%-418.3pp

Employer contribution / active EE

$1,083

$3,129-65.4%

$2,413-55.1%

$4,741-77.2%

Participant deferral / active EE

$4,137

$4,693-11.8%

$3,985+3.8%

$6,401-35.4%

Admin fee / account holder

$9,132-100.0%

$6,835-100.0%

$11,429-100.0%

TURNAGE MOTOR COMPANY 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

TURNAGE MOTOR COMPANY 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion