Retirement plan

THORTSEN MAGNETICS 401(K) PLAN

Name: THORTSEN MAGNETICS CO. - THORTSEN MAGNETICS 401(K) PLAN (2018) Form 5500
Creator: THORTSEN MAGNETICS CO.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THORTSEN MAGNETICS 401(K) PLAN, THORTSEN MAGNETICS CO.

THORTSEN MAGNETICS CO.EIN 56-1178200Plan #001PY 2018

6132-L BROOKSHIRE BLVD - CHARLOTTE, NC 282162410704-391-9404thortsenmagnetics.comLinkedIn1-10 employeeselectrical/electronic manufacturing

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$339K

-12.9% from 2017

Total participants

0.0% from 2017

Average account balance

$67,833

-12.9% from 2017

Annual return

-8.61%

-24.38 pp from 2017

Benchmarks

See 22,375 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort22,375 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.10M

Not enough data

1 years with asset history on file

Average account balance

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

$221K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$76K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+11.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8794

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 codes2E2F2G2J2T3D

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.

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

$83K

$13907 / participant

Other / not subdivided$83K100.0%

% of EOY assets

24.603%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

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

$67,833

$135,639-50.0%

$110,241-38.5%

$135,382-49.9%

Participation rate

83.3%

83.5%-0.1pp

79.8%+3.5pp

82.6%+0.7pp

Annual return

-8.61%

513.21%-521.8pp

314.75%-323.4pp

519.77%-528.4pp

Employer contribution / active EE

$1,992

$4,907-59.4%

$3,827-48.0%

$4,779-58.3%

Participant deferral / active EE

$8,686

$5,507+57.7%

$4,672+85.9%

$5,609+54.9%

Admin fee / account holder

$16,689

$11,457+45.7%

$8,548+95.2%

$10,829+54.1%

THORTSEN MAGNETICS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THORTSEN MAGNETICS 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