Retirement plan

RETIREMENT PLAN FOR EMPLOYEES OF TRANSIT MANAGEMENT OF BEAUMONT, INC.

Name: TRANSIT MANAGEMENT OF BEAUMONT, INC. - RETIREMENT PLAN FOR EMPLOYEES OF TRANSIT MANAGEMENT OF BEAUMONT, INC. (2023) Form 5500
Creator: TRANSIT MANAGEMENT OF BEAUMONT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RETIREMENT PLAN FOR EMPLOYEES OF TRANSIT MANAGEMENT OF BEAUMONT, INC., TRANSIT MANAGEMENT OF BEAUMONT, INC.

TRANSIT MANAGEMENT OF BEAUMONT, INC.EIN 85-3127097Plan #003PY 2023

550 MILAM STREET - BEAUMONT, TX 77701409-835-7895LinkedIn1-10 employeestransportation/trucking/railroad

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$4M

+10.4% from 2022

Total participants

+20.3% from 2022

Average account balance

$51,387

-8.2% from 2022

Annual return

13.08%

+27.80 pp from 2022

Benchmarks

See 4,600 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants25-99

Cohort4,600 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.24M

Not enough data

1 years with asset history on file

Average account balance

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

$62K

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.

283.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$384K

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

+9.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7728

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 codes2C2F2G3D

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit 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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$445K

$8552 / participant

Other / not subdivided$445K100.0%

% of EOY assets

11.240%

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

$51,387

$51,207+0.4%

$70,565-27.2%

$75,177-31.6%

Participation rate

100.0%

61.0%+39.0pp

68.4%+31.6pp

67.2%+32.8pp

Annual return

13.08%

30.05%-17.0pp

32.79%-19.7pp

160.75%-147.7pp

Employer contribution / active EE

$3,382

$1,826+85.1%

$2,976+13.6%

$2,671+26.6%

Participant deferral / active EE

$2,798

$2,850-1.8%

$4,568-38.8%

$4,126-32.2%

Admin fee / account holder

$5,776

$4,097+41.0%

$6,430-10.2%

$5,651+2.2%

RETIREMENT PLAN FOR EMPLOYEES OF TRANSIT MANAGEMENT OF BEAUMONT, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RETIREMENT PLAN FOR EMPLOYEES OF TRANSIT MANAGEMENT OF BEAUMONT, INC.

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