Retirement plan

TWIN CITIES CO-OP PARTNERS 401(K) PLAN AND TRUST

Name: TWIN CITIES CO-OP PARTNERS - TWIN CITIES CO-OP PARTNERS 401(K) PLAN AND TRUST (2023) Form 5500
Creator: TWIN CITIES CO-OP PARTNERS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TWIN CITIES CO-OP PARTNERS 401(K) PLAN AND TRUST, TWIN CITIES CO-OP PARTNERS

TWIN CITIES CO-OP PARTNERSEIN 82-2045239Plan #001PY 2023

2105 LYNDALE AVENUE SOUTH - MINNEAPOLIS, MN 55405612-465-8818

Prospect flagsLow returnsLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$11.7M

+15.5% from 2022

Total participants

421

+1.9% from 2022

Average account balance

$30,702

+14.9% from 2022

Annual return

6.73%

+20.48 pp from 2022

Benchmarks

See 1,316 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,316 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.27M

Not enough data

1 years with asset history on file

Average account balance

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

$34K

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.

364

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.

87.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$934K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+13.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$208

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 2 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY5 years Filed as: JOHN HANCOCK Service code 15 · EIN 01-0233346	Recordkeeping	$23,638
SAGEVIEW ADVISORY GROUP, LLC2 years Service code 27 · EIN 33-0818667 4000 MCARTHUR BLVD. · NEWPORT BEACH, CA 92660	Advisory (Plan)	$9,145

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

4 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$33K

$112 / participant

Investment mgmt$9K27.9%
Contract admin$24K72.1%

% of EOY assets

0.280%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: MAHONEY, ULBRICH, CHRISTIANSEN
Auditor EIN: 411647057
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$30,702

$53,165-42.3%

$86,235-64.4%

$74,473-58.8%

Participation rate

86.7%

64.9%+21.8pp

69.0%+17.7pp

70.7%+15.9pp

Annual return

6.73%

22.64%-15.9pp

1170.03%-1163.3pp

34.36%-27.6pp

Employer contribution / active EE

$407

$1,210-66.3%

$2,381-82.9%

$2,638-84.6%

Participant deferral / active EE

$1,219

$3,234-62.3%

$3,987-69.4%

$4,530-73.1%

Admin fee / account holder

$86

$551-84.4%

$6,856-98.7%

$347-75.3%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY5 years

Filed as: JOHN HANCOCK

Service code 15 · EIN 01-0233346

Recordkeeping

$23,638

SAGEVIEW ADVISORY GROUP, LLC2 years

Service code 27 · EIN 33-0818667

4000 MCARTHUR BLVD. · NEWPORT BEACH, CA 92660

Advisory (Plan)

$9,145

TWIN CITIES CO-OP PARTNERS 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TWIN CITIES CO-OP PARTNERS 401(K) PLAN AND TRUST

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