Retirement plan

TOTAL TANK WORKS, LLC 401(K) SAVINGS PLAN

Name: TOTAL TANK WORKS, LLC - TOTAL TANK WORKS, LLC 401(K) SAVINGS PLAN (2023) Form 5500
Creator: TOTAL TANK WORKS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TOTAL TANK WORKS, LLC 401(K) SAVINGS PLAN, TOTAL TANK WORKS, LLC

TOTAL TANK WORKS, LLCEIN 81-3894906Plan #001PY 2023

1317 GRANT AVENUE - BUTLER, PA 16029724-285-4258totaltankworks.comLinkedIn11-50 employeesconstruction

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$556K

+76.2% from 2022

Total participants

+11.1% from 2022

Average account balance

$30,903

+56.7% from 2022

Annual return

25.93%

+25.93 pp from 2022

Benchmarks

See 8,683 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort8,683 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$807K

Not enough data

1 years with asset history on file

Average account balance

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

$40K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$183K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+13.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$623

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 codes2E2F2J2T3D3H

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).
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

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

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

$30,903

$118,496-73.9%

$98,461-68.6%

$139,466-77.8%

Participation rate

88.9%

77.5%+11.4pp

75.2%+13.7pp

80.3%+8.6pp

Annual return

25.93%

18.96%+7.0pp

21.17%+4.8pp

373.66%-347.7pp

Employer contribution / active EE

$2,837

$3,611-21.4%

$3,049-7.0%

$4,754-40.3%

Participant deferral / active EE

$5,985

$5,393+11.0%

$4,738+26.3%

$6,712-10.8%

Admin fee / account holder

$14,056-100.0%

$8,961-100.0%

$11,409-100.0%

TOTAL TANK WORKS, LLC 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

TOTAL TANK WORKS, LLC 401(K) SAVINGS 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