Retirement plan

TIME MANUFACTURING COMPANY 401(K) PLAN

Name: TIME MANUFACTURING COMPANY - TIME MANUFACTURING COMPANY 401(K) PLAN (2024) Form 5500
Creator: TIME MANUFACTURING COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TIME MANUFACTURING COMPANY 401(K) PLAN, TIME MANUFACTURING COMPANY

TIME MANUFACTURING COMPANYEIN 74-1609717Plan #001PY 2024

PO BOX 20368 - WACO, TX 76702254-399-2100versalift.comLinkedIn1001-5000 employeesmachinery

Prospect flagsLow returnsHigh feesLow assets / participantLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$33.2M

+9.6% from 2023

Total participants

1,137

+1.6% from 2023

Average account balance

$32,716

+4.3% from 2023

Annual return

10.82%

-3.96 pp from 2023

Benchmarks

See 2,379 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,379 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$33.21M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

1,015

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.

85.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.61M

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

+10.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$371

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 6 by compensation

Provider	Service type	Compensation
AMERIPRISE FINANCIAL SERVICES INC6 years Filed as: AMERIPRISE FINANCIAL SERVICES Service code 53 · EIN 41-0973005	Insurance Commissions	$151,953
NATIONWIDE5 years Filed as: NATIONWIDE FINANCIAL Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$84,366
PROACCOUNT1 year Service code 26 10 W NATIONWIDE BLVD · COLUMBUS, OH 43215	Advisory (Participants)	$69,037
INWEST RETIREMENT SOLUTIONS4 years Service code 15 4305 N GARFIELD · MIDLAND, TX 79705	Recordkeeping	$47,716
IRON-CO-FID-COMPREHENSIVE1 year Filed as: IRON FIDUCIARY Service code 53 · EIN 99-9552241	Insurance Commissions	$12,922
FIDUCIARY WISE, LLC4 years Filed as: FIDUCIARY WISE Service code 14 2487 S GILBERT · GILBERT, AZ 85295	Plan Administrator	$11,000

Plan features & details

Pension benefit codes2A2E2F2G2J2R3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

5 tripped

OpportunityLow employer contribution
Employer 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.)
OpportunityLow returns
Annual investment return 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$377K

$454 / participant

Recordkeeping$153K40.7%
Investment mgmt$176K46.7%
Contract admin$48K12.7%

% of EOY assets

1.135%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: JAYNES REITMEIER BOYD & THERRELL PC
Auditor EIN: 742533381
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,716

$89,123-63.3%

$102,460-68.1%

$77,762-57.9%

Participation rate

85.3%

80.9%+4.4pp

76.5%+8.8pp

70.6%+14.7pp

Annual return

10.82%

25.05%-14.2pp

29.47%-18.7pp

31.27%-20.5pp

Employer contribution / active EE

$914

$2,700-66.1%

$3,025-69.8%

$2,728-66.5%

Participant deferral / active EE

$4,637

$5,148-9.9%

$5,056-8.3%

$4,651-0.3%

Admin fee / account holder

$371

$236+57.5%

$9,460-96.1%

$433-14.2%

Provider

Service type

Compensation

AMERIPRISE FINANCIAL SERVICES INC6 years

Filed as: AMERIPRISE FINANCIAL SERVICES

Service code 53 · EIN 41-0973005

Insurance Commissions

$151,953

NATIONWIDE5 years

Filed as: NATIONWIDE FINANCIAL

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$84,366

PROACCOUNT1 year

Service code 26

10 W NATIONWIDE BLVD · COLUMBUS, OH 43215

Advisory (Participants)

$69,037

INWEST RETIREMENT SOLUTIONS4 years

Service code 15

4305 N GARFIELD · MIDLAND, TX 79705

Recordkeeping

$47,716

IRON-CO-FID-COMPREHENSIVE1 year

Filed as: IRON FIDUCIARY

Service code 53 · EIN 99-9552241

Insurance Commissions

$12,922

FIDUCIARY WISE, LLC4 years

Filed as: FIDUCIARY WISE

Service code 14

2487 S GILBERT · GILBERT, AZ 85295

Plan Administrator

$11,000

TIME MANUFACTURING COMPANY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TIME MANUFACTURING COMPANY 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