Retirement plan

TWIN CITIES READY MIX, INC. 401(K) PLAN

Name: TWIN CITIES READY MIX, INC. - TWIN CITIES READY MIX, INC. 401(K) PLAN (2022) Form 5500
Creator: TWIN CITIES READY MIX, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TWIN CITIES READY MIX, INC. 401(K) PLAN, TWIN CITIES READY MIX, INC.

TWIN CITIES READY MIX, INC.EIN 73-1215650Plan #001PY 2022

102 W. ASHLAND - MCALESTER, OK 74501918-420-5588

Prospect flagsHigh feesLow participationLow participant contribution

How to read this page

Total assets (EOY)

$4.2M

-18.5% from 2021

Total participants

150

+12.8% from 2021

Average account balance

$69,996

-18.5% from 2021

Annual return

-14.37%

-24.05 pp from 2021

Benchmarks

See 1,873 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,873 peers

Snapshot2022

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$6.70M

Not enough data

1 years with asset history on file

Average account balance

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

$129K

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.

30.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$400K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+14.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8672

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
KESTRA INVESTMENT SERVICES LLC1 year Filed as: KESTRA ADVISORY SERVICES Service code 27 · EIN 35-2552359	Advisory (Plan)	$19,147
TRANSAMERICA RETIREMENT SOLUTIONS1 year Filed as: TRANSMAERICA RETIREMENT SOLUTIONS Service code 15 · EIN 13-3689044	Recordkeeping	$12,241
DWC - THE 401(K) EXPERTS1 year Filed as: DWC THE 401(K) EXPERTS Service code 15 · EIN 26-2091417	Recordkeeping	$3,270

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.

Opportunity flags

3 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$39K

$274 / participant

Other / not subdivided$39K100.0%

% of EOY assets

0.932%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: MORSE & CO., PLLC
Auditor EIN: 453705962
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$69,996

$72,607-3.6%

$90,749-22.9%

$66,914+4.6%

Participation rate

37.1%

73.7%-36.6pp

75.7%-38.6pp

69.8%-32.7pp

Annual return

-14.37%

-12.28%-2.1pp

-12.16%-2.2pp

1.58%-16.0pp

Employer contribution / active EE

$1,740

$2,369-26.5%

$2,921-40.4%

$2,544-31.6%

Participant deferral / active EE

$1,127

$3,977-71.7%

$4,564-75.3%

$4,237-73.4%

Admin fee / account holder

$653

$707-7.7%

$8,445-92.3%

$593+10.0%

Provider

Service type

Compensation

KESTRA INVESTMENT SERVICES LLC1 year

Filed as: KESTRA ADVISORY SERVICES

Service code 27 · EIN 35-2552359

Advisory (Plan)

$19,147

TRANSAMERICA RETIREMENT SOLUTIONS1 year

Filed as: TRANSMAERICA RETIREMENT SOLUTIONS

Service code 15 · EIN 13-3689044

Recordkeeping

$12,241

DWC - THE 401(K) EXPERTS1 year

Filed as: DWC THE 401(K) EXPERTS

Service code 15 · EIN 26-2091417

Recordkeeping

$3,270

TWIN CITIES READY MIX, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TWIN CITIES READY MIX, INC. 401(K) 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