Retirement plan

TWIN CITY MOTORS, INC. ASSET ACCUMULATION 401(K) RETIREMENT PLAN

Name: TWIN CITY MOTORS, INC. - TWIN CITY MOTORS, INC. ASSET ACCUMULATION 401(K) RETIREMENT PLAN (2024) Form 5500
Creator: TWIN CITY MOTORS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TWIN CITY MOTORS, INC. ASSET ACCUMULATION 401(K) RETIREMENT PLAN, TWIN CITY MOTORS, INC.

TWIN CITY MOTORS, INC.EIN 62-0562541Plan #001PY 2024

3046 AIRPORT HIGHWAY - ALCOA, TN 37701865-970-2977

Prospect flagsLow returnsCorrective distributions

How to read this page

Total assets (EOY)

$21.3M

+10.1% from 2023

Total participants

289

+2.5% from 2023

Average account balance

$73,570

+7.5% from 2023

Annual return

10.89%

-1.48 pp from 2023

Benchmarks

See 1,305 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,305 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$21.26M

Not enough data

1 years with asset history on file

Average account balance

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

$74K

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.

289

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

$1.45M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+10.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$267

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

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

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$77K

$304 / participant

Contract admin$77K100.0%

% of EOY assets

0.363%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: VANCE CPA LLC
Auditor EIN: 631284602
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$73,570

$54,245+35.6%

$93,727-21.5%

$77,762-5.4%

Participation rate

100.0%

63.9%+36.1pp

68.7%+31.3pp

70.6%+29.4pp

Annual return

10.89%

30.58%-19.7pp

133.83%-122.9pp

31.27%-20.4pp

Employer contribution / active EE

$2,453

$1,168+110.1%

$2,421+1.3%

$2,728-10.1%

Participant deferral / active EE

$3,241

$3,144+3.1%

$4,417-26.6%

$4,651-30.3%

Admin fee / account holder

$267

$575-53.6%

$8,292-96.8%

$433-38.3%

TWIN CITY MOTORS, INC. ASSET ACCUMULATION 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TWIN CITY MOTORS, INC. ASSET ACCUMULATION 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