Retirement plan

TFE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

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

TFE, INC.EIN 59-2928338Plan #005PY 2022

1114 RIDGECREST AVE - NORTH AUGUSTA, SC 29841803-279-0331tfeinc.netLinkedIn51-200 employeesenvironmental services

Prospect flagsHigh retiree %High feesLow participation

How to read this page

Total assets (EOY)

$11.5M

-15.3% from 2021

Total participants

208

+7.2% from 2021

Average account balance

$74,060

-16.4% from 2021

Annual return

-16.08%

-27.96 pp from 2021

Benchmarks

See 5,987 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,987 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.21M

Not enough data

1 years with asset history on file

Average account balance

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

$60K

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.

187

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.

82.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.09M

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

+13.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$304

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 5 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS2 years Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399	Recordkeeping	$36,625
MERRILL LYNCH PIERCE FENNER & SMITH6 years Filed as: MERRILL LYNCH Service code 27 · EIN 13-2808480	Advisory (Plan)	$21,291
ASCENSUS LLC2 years Filed as: FUTUREPLAN BY ASCENSUS Service code 13 · EIN 82-3719843 101 W BROADWAY STE 1420 · SAN DIEGO, CA 92101	Contract Administrator	$2,701
FIRST CITIZENS BANK & TRUST COMPANY1 year Filed as: FIRST CITIZENS BANK AND TRUST CO Service code 27 P.O. BOX 29522 · RALEIGH, NC 27626	Advisory (Plan)	$2,500
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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.)
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$84K

$583 / participant

Investment mgmt$41K48.6%
Contract admin$43K51.4%

% of EOY assets

0.736%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ELLIOTT DAVIS LLC
Auditor EIN: 570381582
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$74,060

$84,499-12.4%

$125,391-40.9%

$66,949+10.6%

Participation rate

63.4%

76.4%-13.0pp

82.4%-18.9pp

69.8%-6.4pp

Annual return

-16.08%

-8.49%-7.6pp

572.41%-588.5pp

1.57%-17.7pp

Employer contribution / active EE

$2,286

$3,554-35.7%

$4,816-52.5%

$2,545-10.2%

Participant deferral / active EE

$5,264

$6,785-22.4%

$7,448-29.3%

$4,239+24.2%

Admin fee / account holder

$545

$685-20.5%

$10,009-94.6%

$594-8.2%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS2 years

Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN

Service code 15 · EIN 36-6071399

Recordkeeping

$36,625

MERRILL LYNCH PIERCE FENNER & SMITH6 years

Filed as: MERRILL LYNCH

Service code 27 · EIN 13-2808480

Advisory (Plan)

$21,291

ASCENSUS LLC2 years

Filed as: FUTUREPLAN BY ASCENSUS

Service code 13 · EIN 82-3719843

101 W BROADWAY STE 1420 · SAN DIEGO, CA 92101

Contract Administrator

$2,701

FIRST CITIZENS BANK & TRUST COMPANY1 year

Filed as: FIRST CITIZENS BANK AND TRUST CO

Service code 27

P.O. BOX 29522 · RALEIGH, NC 27626

Advisory (Plan)

$2,500

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

TFE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TFE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

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