Retirement plan

POWER TOOL COMPANY 401(K) PLAN

Name: WHITSON COMPANY, INC. D/B/A POWER TOOL COMPANY - POWER TOOL COMPANY 401(K) PLAN (2022) Form 5500
Creator: WHITSON COMPANY, INC. D/B/A POWER TOOL COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, POWER TOOL COMPANY 401(K) PLAN, WHITSON COMPANY, INC. D/B/A POWER TOOL COMPANY

WHITSON COMPANY, INC. D/B/A POWER TOOL COMPANYEIN 62-0879653Plan #001PY 2022

1709 LAMONS LANE - JOHNSON CITY, TN 37604423-926-2174

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$407K

No prior year

Total participants

No prior year

Average account balance

$19,378

No prior year

Annual return

0.00%

No prior year

Benchmarks

See 9,164 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,164 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.49M

Not enough data

1 years with asset history on file

Average account balance

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

$96K

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.

123.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$468K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$22K

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

+19.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$866

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 codes2E2J2F2G2T3D

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 participant contribution
Participant contribution per participant 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.

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

$19,378

$81,870-76.3%

$119,622-83.8%

$68,486-71.7%

Participation rate

77.8%

71.9%+5.9pp

79.3%-1.5pp

67.9%+9.9pp

Annual return

0.00%

-23.82%+23.8pp

-14.98%+15.0pp

-7.85%+7.9pp

Employer contribution / active EE

$15,072

$2,692+459.9%

$4,232+256.1%

$2,597+480.4%

Participant deferral / active EE

$4,148-100.0%

$5,601-100.0%

$4,028-100.0%

Admin fee / account holder

$6,583-100.0%

$10,328-100.0%

$5,404-100.0%

POWER TOOL COMPANY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

POWER TOOL COMPANY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion