Retirement plan

TURN2 SPECIALTY COMPANIES 401(K) PLAN

Name: TURN2 SPECIALTY COMPANIES, LLC - TURN2 SPECIALTY COMPANIES 401(K) PLAN (2024) Form 5500
Creator: TURN2 SPECIALTY COMPANIES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TURN2 SPECIALTY COMPANIES 401(K) PLAN, TURN2 SPECIALTY COMPANIES, LLC

TURN2 SPECIALTY COMPANIES, LLCEIN 83-1517552Plan #001PY 2024

3558 KILGORE PARKWAY - BAYTOWN, TX 77523832-241-7245turn2sc.comLinkedIn1001-5000 employeesoil & energy

Prospect flagsLow participationLow assets / participantLow participant contribution

Top hat statement on fileNQDC

Filed January 10, 2024

Plan administrator

Plan administrator name- on Solo, $4.99 for your first month

3558 Kilgore Parkway

Baytown, TX 77753

Email- on Solo, $4.99 for your first month Phone- on Solo, $4.99 for your first month

Plans declared (1)

Turn2 Key Employee Plan18 emp

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Total assets (EOY)

$3.7M

+1.1% from 2023

Total participants

943

+17.6% from 2023

Average account balance

$23,390

+9.9% from 2023

Annual return

12.09%

-35.34 pp from 2023

Benchmarks

See 1,565 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,565 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$3.74M

Not enough data

1 years with asset history on file

Average account balance

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

$23K

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.

160

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.

13.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.13M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+12.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$129

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

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Service providers

Top 7 by compensation

Provider	Service type	Compensation
T ROWE PRICE RPS INC1 year Filed as: T. ROWE PRICE RPS, INC. Service code 15 · EIN 52-1309931	Recordkeeping	$20,616
ALLSPRING1 year Service code 28 1415 VANTAGE PARK DR · CHARLOTTE, NC 28203	Investment Management	$0
AB FUNDS1 year Filed as: AM FUNDS Service code 28	Investment Management	$0
AMERICAN FUNDS1 year Service code 28 · EIN 75-2401150	Investment Management	$0
FIDELITY INVESTMENTS INSTITUTIONAL1 year Filed as: FIDELITY Service code 28 · EIN 04-2647786	Investment Management	$0
T ROWE PRICE RPS INC1 year Filed as: T ROWE PRICE RPS, INC Service code 15	Recordkeeping	$0
THE VANGUARD GROUP, INC.1 year Filed as: VANGUARD Service code 28 · EIN 23-1945930	Investment Management	$0

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.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$21K

$23 / participant

Other / not subdivided$21K100.0%

% of EOY assets

0.551%

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: WITHUMSMITH+BROWN, PC
Auditor EIN: 222027092
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$23,390

$82,917-71.8%

$103,333-77.4%

$77,643-69.9%

Participation rate

13.1%

71.6%-58.5pp

74.5%-61.4pp

70.6%-57.5pp

Annual return

12.09%

19.13%-7.0pp

24.88%-12.8pp

31.24%-19.2pp

Employer contribution / active EE

$3,552-100.0%

$3,868-100.0%

$2,726-100.0%

Participant deferral / active EE

$1,260

$4,108-69.3%

$5,057-75.1%

$4,647-72.9%

Admin fee / account holder

$129

$638-79.8%

$8,355-98.5%

$430-70.1%

Provider

Service type

Compensation

T ROWE PRICE RPS INC1 year

Filed as: T. ROWE PRICE RPS, INC.

Service code 15 · EIN 52-1309931

Recordkeeping

$20,616

ALLSPRING1 year

Service code 28

1415 VANTAGE PARK DR · CHARLOTTE, NC 28203

Investment Management

AB FUNDS1 year

Filed as: AM FUNDS

Service code 28

Investment Management

AMERICAN FUNDS1 year

Service code 28 · EIN 75-2401150

Investment Management

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Filed as: FIDELITY

Service code 28 · EIN 04-2647786

Investment Management

T ROWE PRICE RPS INC1 year

Filed as: T ROWE PRICE RPS, INC

Service code 15

Recordkeeping

THE VANGUARD GROUP, INC.1 year

Filed as: VANGUARD

Service code 28 · EIN 23-1945930

Investment Management

TURN2 SPECIALTY COMPANIES 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TURN2 SPECIALTY COMPANIES 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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