Retirement plan

RECORD ENERGY CONCEPTS 401(K) PLAN

Name: RECORD ENERGY CONCEPTS, INC. - RECORD ENERGY CONCEPTS 401(K) PLAN (2024) Form 5500
Creator: RECORD ENERGY CONCEPTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RECORD ENERGY CONCEPTS 401(K) PLAN, RECORD ENERGY CONCEPTS, INC.

RECORD ENERGY CONCEPTS, INC.EIN 86-0706961Plan #001PY 2024

818 SOUTH PLUMER AVENUE - TUCSON, AZ 85719520-740-0564recordenergyconcepts.comLinkedIn11-50 employeesfacilities services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.5M

+18.9% from 2023

Total participants

-35.0% from 2023

Average account balance

$116,769

+28.1% from 2023

Annual return

13.29%

-3.70 pp from 2023

Benchmarks

See 54,915 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort54,915 peers

Snapshot2024

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)

$117K

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.

118.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$95K

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

+13.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2728

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 codes2E2F2G2H2J2T3D

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.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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

$35K

$3224 / participant

Other / not subdivided$35K100.0%

% of EOY assets

2.336%

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

$116,769

$111,814+4.4%

$103,378+13.0%

$145,978-20.0%

Participation rate

100.0%

77.9%+22.1pp

74.5%+25.5pp

80.3%+19.7pp

Annual return

13.29%

24.80%-11.5pp

24.91%-11.6pp

550.52%-537.2pp

Employer contribution / active EE

$2,003

$4,215-52.5%

$3,870-48.2%

$4,662-57.0%

Participant deferral / active EE

$6,679

$5,618+18.9%

$5,058+32.1%

$6,690-0.2%

Admin fee / account holder

$2,728

$9,764-72.1%

$8,401-67.5%

$13,400-79.6%

RECORD ENERGY CONCEPTS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RECORD ENERGY CONCEPTS 401(K) 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