Retirement plan

TECH ELECTRIC CONTRACTORS, LLC EMPLOYEE RETIREMENT PLAN

Name: TECH ELECTRIC CONTRACTORS, LLC - TECH ELECTRIC CONTRACTORS, LLC EMPLOYEE RETIREMENT PLAN (2022) Form 5500
Creator: TECH ELECTRIC CONTRACTORS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TECH ELECTRIC CONTRACTORS, LLC EMPLOYEE RETIREMENT PLAN, TECH ELECTRIC CONTRACTORS, LLC

TECH ELECTRIC CONTRACTORS, LLCEIN 83-2446429Plan #001PY 2022

570 HUDSON RIVER RD - WATERFORD, NY 121881918518-266-1300

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$998K

-12.4% from 2021

Total participants

0.0% from 2021

Average account balance

$249,499

-12.4% from 2021

Annual return

-19.38%

-34.08 pp from 2021

Benchmarks

See 48,278 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort48,278 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.52M

Not enough data

1 years with asset history on file

Average account balance

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

$253K

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

$94K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+13.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2844

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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$12K

$3025 / participant

Other / not subdivided$12K100.0%

% of EOY assets

1.212%

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

$249,499

$133,981+86.2%

$112,249+122.3%

$134,532+85.5%

Participation rate

100.0%

78.6%+21.4pp

75.1%+24.9pp

81.2%+18.8pp

Annual return

-19.38%

47.16%-66.5pp

27.48%-46.9pp

418.27%-437.7pp

Employer contribution / active EE

$4,958

$4,040+22.7%

$3,636+36.3%

$4,741+4.6%

Participant deferral / active EE

$14,914

$5,292+181.8%

$4,729+215.4%

$6,401+133.0%

Admin fee / account holder

$3,025

$7,492-59.6%

$6,412-52.8%

$11,429-73.5%

TECH ELECTRIC CONTRACTORS, LLC EMPLOYEE RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TECH ELECTRIC CONTRACTORS, LLC EMPLOYEE RETIREMENT 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