Retirement plan

TULKOFF FOOD PRODUCTS, INC. 401(K) PROFIT SHARING PLAN

Name: TULKOFF FOOD PRODUCTS, INC. - TULKOFF FOOD PRODUCTS, INC. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: TULKOFF FOOD PRODUCTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TULKOFF FOOD PRODUCTS, INC. 401(K) PROFIT SHARING PLAN, TULKOFF FOOD PRODUCTS, INC.

TULKOFF FOOD PRODUCTS, INC.EIN 52-0960665Plan #002PY 2022

2229 VAN DEMAN STREET - BALTIMORE, MD 21224410-864-0574tulkoff.comLinkedIn51-200 employeesfood production

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$6.6M

-12.3% from 2021

Total participants

143

+19.2% from 2021

Average account balance

$47,729

-26.1% from 2021

Annual return

-9.28%

-31.72 pp from 2021

Benchmarks

See 936 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort936 peers

Snapshot2022

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Analytics

Total assets (EOY)

Plan-year ending balance

$9.60M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

182

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.

97.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.15M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+14.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$292

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$20,590
RESOURCES INVESTMENT ADVISORS LLC1 year Service code 27 11101 SWITZER RD STE 200 · OVERLAND PARK, KS 66210	Advisory (Plan)	$12,500
FIDUCIARY PLAN CONSULTANTS LLC1 year Filed as: FIDUCIARY PLAN CONSULTANTS LLC HIGH Service code 99 921 E FORT AVE STE 230 · BALTIMORE, MD 21230	Other Fees	$2,479
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ADVISED ASSETS GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$450

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3B3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$36K

$322 / participant

Contract admin$36K100.0%

% of EOY assets

0.543%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: EISNERAMPER LLP
Auditor EIN: 871363769
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$47,729

$50,199-4.9%

$70,092-31.9%

$66,914-28.7%

Participation rate

96.4%

66.3%+30.1pp

70.5%+26.0pp

69.8%+26.6pp

Annual return

-9.28%

-13.85%+4.6pp

190.73%-200.0pp

1.58%-10.9pp

Employer contribution / active EE

$2,684

$1,864+44.0%

$2,559+4.9%

$2,544+5.5%

Participant deferral / active EE

$3,879

$3,112+24.7%

$3,849+0.8%

$4,237-8.4%

Admin fee / account holder

$259

$600-56.8%

$6,267-95.9%

$593-56.3%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$20,590

RESOURCES INVESTMENT ADVISORS LLC1 year

Service code 27

11101 SWITZER RD STE 200 · OVERLAND PARK, KS 66210

Advisory (Plan)

$12,500

FIDUCIARY PLAN CONSULTANTS LLC1 year

Filed as: FIDUCIARY PLAN CONSULTANTS LLC HIGH

Service code 99

921 E FORT AVE STE 230 · BALTIMORE, MD 21230

Other Fees

$2,479

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ADVISED ASSETS GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$450

TULKOFF FOOD PRODUCTS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TULKOFF FOOD PRODUCTS, INC. 401(K) PROFIT SHARING 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