Retirement plan

USWA SAVINGS PROGRAM-TRI-COUNTY ELECTRIC COMPANY, INC. 401(K) PLAN

Name: TRI-COUNTY ELECTRIC COMPANY, INC. - USWA SAVINGS PROGRAM-TRI-COUNTY ELECTRIC COMPANY, INC. 401(K) PLAN (2022) Form 5500
Creator: TRI-COUNTY ELECTRIC COMPANY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, USWA SAVINGS PROGRAM-TRI-COUNTY ELECTRIC COMPANY, INC. 401(K) PLAN, TRI-COUNTY ELECTRIC COMPANY, INC.

TRI-COUNTY ELECTRIC COMPANY, INC.EIN 55-0516747Plan #002PY 2022

300 SCOTTDALE AVENUE - SCOTTDALE, PA 15683724-887-9110

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$5.2M

-19.9% from 2021

Total participants

-34.9% from 2021

Average account balance

$53,004

+23.0% from 2021

Annual return

-13.92%

-25.54 pp from 2021

Benchmarks

See 17,340 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort17,340 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.67M

Not enough data

1 years with asset history on file

Average account balance

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

$89K

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.

133.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$483K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+13.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3325

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

Top 1 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.4 years Service code 15 · EIN 27-2037969	Recordkeeping	$14,153

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

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.
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.
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

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$15K

$249 / participant

Contract admin$14K94.7%
Other / not subdivided$7975.3%

% of EOY assets

0.285%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: THE KEENAN GROUP
Auditor EIN: 251818418
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,004

$64,729-18.1%

$112,263-52.8%

$68,490-22.6%

Participation rate

100.0%

67.2%+32.8pp

75.1%+24.9pp

67.9%+32.1pp

Annual return

-13.92%

-11.40%-2.5pp

27.49%-41.4pp

-7.85%-6.1pp

Employer contribution / active EE

$4,943

$2,746+80.0%

$3,636+35.9%

$2,597+90.4%

Participant deferral / active EE

$2,094

$3,566-41.3%

$4,729-55.7%

$4,028-48.0%

Admin fee / account holder

$151

$5,222-97.1%

$6,410-97.6%

$5,403-97.2%

Provider

Service type

Compensation

NEWPORT GROUP, INC.4 years

Service code 15 · EIN 27-2037969

Recordkeeping

$14,153

USWA SAVINGS PROGRAM-TRI-COUNTY ELECTRIC COMPANY, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

USWA SAVINGS PROGRAM-TRI-COUNTY ELECTRIC COMPANY, INC. 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