Retirement plan

TRS 401(K) RETIREMENT PLAN

Name: TRS STAFFING SOLUTIONS, INC. - TRS 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: TRS STAFFING SOLUTIONS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TRS 401(K) RETIREMENT PLAN, TRS STAFFING SOLUTIONS, INC.

TRS STAFFING SOLUTIONS, INC.EIN 57-0785147Plan #001PY 2023

6700 LAS COLINAS BOULEVARD - IRVING, TX 75039469-398-7000

Prospect flagsLow returnsLow participationLow assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$26.4M

+7.6% from 2022

Total participants

1,809

-16.4% from 2022

Average account balance

$17,160

+10.4% from 2022

Annual return

9.28%

+23.74 pp from 2022

Benchmarks

See 1,502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,502 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$28.11M

Not enough data

1 years with asset history on file

Average account balance

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

$20K

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.

1,400

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.

58.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.60M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+12.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$84

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 7 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY7 years Filed as: VOYA INSTITUTIONAL PLAN SERVICES Service code 15 · EIN 04-3516284	Recordkeeping	$70,227
ERNST & YOUNG LLP3 years Filed as: ERNST & YOUNG, LLP Service code 10 · EIN 34-6565596	Accounting	$42,600
WILLIS TOWERS WATSON US LLC7 years Filed as: WATSON WYATT INVESTMENT CONSULTING Service code 11 · EIN 53-0181291	Actuarial	$33,330
MERCER1 year Filed as: INC MERCER Service code 28 · EIN 30-0282430	Investment Management	$17,067
DAVIS WRIGHT TREMAINE1 year Service code 11 · EIN 91-0839480	Actuarial	$13,079
VOYA RETIREMENT INSURANCE & ANNUITY3 years Filed as: VOYA RETIREMENT ADVISORS, LLC Service code 26 · EIN 02-0488491	Advisory (Participants)	$6,762
NORTHERN TRUST COMPANY9+ years Service code 21 · EIN 36-1561860	Bank Trustee	$5,909

Plan features & details

Pension benefit codes2E2F2G2J2K2O2R2S2T3H

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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$189K

$259 / participant

Recordkeeping$70K37.0%
Trustee / custodial$6K3.2%
Investment mgmt$24K12.7%
Legal$13K6.9%
Actuarial$33K17.5%
Other / not subdivided$43K22.8%

% of EOY assets

0.717%

all-in expense ratio

Categories reported

5 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ERNST & YOUNG, LLP
Auditor EIN: 346565596
Audit fees: $43,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,160

$93,010-81.6%

$96,515-82.2%

$74,460-77.0%

Participation rate

62.6%

71.6%-9.0pp

74.3%-11.7pp

70.7%-8.1pp

Annual return

9.28%

37.50%-28.2pp

35.73%-26.5pp

34.38%-25.1pp

Employer contribution / active EE

$186

$3,427-94.6%

$3,740-95.0%

$2,638-92.9%

Participant deferral / active EE

$3,626

$3,971-8.7%

$4,880-25.7%

$4,530-20.0%

Admin fee / account holder

$123

$633-80.6%

$6,735-98.2%

$348-64.6%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY7 years

Filed as: VOYA INSTITUTIONAL PLAN SERVICES

Service code 15 · EIN 04-3516284

Recordkeeping

$70,227

ERNST & YOUNG LLP3 years

Filed as: ERNST & YOUNG, LLP

Service code 10 · EIN 34-6565596

Accounting

$42,600

WILLIS TOWERS WATSON US LLC7 years

Filed as: WATSON WYATT INVESTMENT CONSULTING

Service code 11 · EIN 53-0181291

Actuarial

$33,330

MERCER1 year

Filed as: INC MERCER

Service code 28 · EIN 30-0282430

Investment Management

$17,067

DAVIS WRIGHT TREMAINE1 year

Service code 11 · EIN 91-0839480

Actuarial

$13,079

VOYA RETIREMENT INSURANCE & ANNUITY3 years

Filed as: VOYA RETIREMENT ADVISORS, LLC

Service code 26 · EIN 02-0488491

Advisory (Participants)

$6,762

NORTHERN TRUST COMPANY9+ years

Service code 21 · EIN 36-1561860

Bank Trustee

$5,909

TRS 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TRS 401(K) RETIREMENT 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