Retirement plan

T & M ELECTRIC, INC. 401(K) AND PROFIT SHARING PLAN

Name: T & M ELECTRIC OF CLAY COUNTY, LLC - T & M ELECTRIC, INC. 401(K) AND PROFIT SHARING PLAN (2023) Form 5500
Creator: T & M ELECTRIC OF CLAY COUNTY, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, T & M ELECTRIC, INC. 401(K) AND PROFIT SHARING PLAN, T & M ELECTRIC OF CLAY COUNTY, LLC

T & M ELECTRIC OF CLAY COUNTY, LLCEIN 59-2052695Plan #001PY 2023

200 COLLEGE DRIVE - ORANGE PARK, FL 32065904-272-0272

Prospect flagsLow returnsHigh feesLow participation

How to read this page

Total assets (EOY)

$5.6M

+13.9% from 2022

Total participants

+5.3% from 2022

Average account balance

$129,550

+13.9% from 2022

Annual return

11.36%

+28.21 pp from 2022

Benchmarks

See 18,047 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,047 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.58M

Not enough data

1 years with asset history on file

Average account balance

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

$137K

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.

50.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$403K

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

+6.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4946

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 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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$216K

$3039 / participant

Other / not subdivided$216K100.0%

% of EOY assets

3.873%

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

$129,550

$73,955+75.2%

$96,520+34.2%

$75,181+72.3%

Participation rate

49.3%

66.4%-17.1pp

74.3%-25.0pp

67.2%-17.9pp

Annual return

11.36%

26.72%-15.4pp

35.72%-24.4pp

160.69%-149.3pp

Employer contribution / active EE

$1,182

$2,930-59.6%

$3,739-68.4%

$2,671-55.7%

Participant deferral / active EE

$2,817

$3,659-23.0%

$4,879-42.2%

$4,126-31.7%

Admin fee / account holder

$5,018

$5,217-3.8%

$6,733-25.5%

$5,650-11.2%

T & M ELECTRIC, INC. 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

T & M ELECTRIC, INC. 401(K) AND 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