Retirement plan

RENCO TOOL CO., INC. 401(K) PROFIT SHARING PLAN

Name: RENCO TOOL CO., INC. - RENCO TOOL CO., INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: RENCO TOOL CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RENCO TOOL CO., INC. 401(K) PROFIT SHARING PLAN, RENCO TOOL CO., INC.

RENCO TOOL CO., INC.EIN 75-2561330Plan #001PY 2024

P.O. BOX 602 - PERRYTON, TX 79070806-435-3614rencotool.comLinkedIn11-50 employeesoil & energy

Prospect flagsHigh feesLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$1.8M

+11.2% from 2023

Total participants

-6.7% from 2023

Average account balance

$166,055

+21.3% from 2023

Annual return

16.28%

-8.32 pp from 2023

Benchmarks

See 1,593 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants<25

Cohort1,593 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.32M

Not enough data

1 years with asset history on file

Average account balance

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

$211K

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.

122.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$91K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+21.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1068

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 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

3 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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$189K

$15777 / participant

Other / not subdivided$189K100.0%

% of EOY assets

10.365%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

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

$166,055

$210,343-21.1%

$153,476+8.2%

$145,978+13.8%

Participation rate

75.0%

82.1%-7.1pp

77.1%-2.1pp

80.3%-5.3pp

Annual return

16.28%

13.38%+2.9pp

15.66%+0.6pp

550.52%-534.2pp

Employer contribution / active EE

$6,047-100.0%

$5,038-100.0%

$4,662-100.0%

Participant deferral / active EE

$8,758

$7,977+9.8%

$6,759+29.6%

$6,690+30.9%

Admin fee / account holder

$17,211

$19,424-11.4%

$12,729+35.2%

$13,400+28.4%

RENCO TOOL CO., INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RENCO TOOL CO., INC. 401(K) PROFIT SHARING 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