Retirement plan

TOYON RESEARCH CORPORATION EMPLOYEE STOCK OWNERSHIP PLAN

Name: TOYON RESEARCH CORPORATION - TOYON RESEARCH CORPORATION EMPLOYEE STOCK OWNERSHIP PLAN (2024) Form 5500
Creator: TOYON RESEARCH CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TOYON RESEARCH CORPORATION EMPLOYEE STOCK OWNERSHIP PLAN, TOYON RESEARCH CORPORATION

TOYON RESEARCH CORPORATIONEIN 95-3526665Plan #003PY 2024

6800 CORTONA DRIVE - GOLETA, CA 931173021805-869-1080toyon.comLinkedIn201-500 employeesdefense & space

Prospect flagsHigh feesHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$188.7M

+30.8% from 2023

Total participants

347

+16.4% from 2023

Average account balance

$575,280

+12.5% from 2023

Annual return

29.79%

+14.60 pp from 2023

Benchmarks

See 3,298 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,298 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$188.69M

Not enough data

1 years with asset history on file

Average account balance

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

$575K

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.

328

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.

92.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$8.95M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$34K

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

+29.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$536

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 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY4 years Service code 13 · EIN 42-0127290	Contract Administrator	$89,310
NASIF, HICKS, HARRIS & CO, LLP1 year Filed as: NASIF HICKS HARRIS & CO LLP. Service code 10 · EIN 77-0181453	Accounting	$48,452
INDEPENDENT FINANCIAL PARTNERS3 years Filed as: CHARTWELL Service code 49 · EIN 36-4799908	Other Services	$27,782
MORNINGSTAR3 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2F2G2I2J2O2Q2R2T3I

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.
2I
Stock bonus
Stock bonus plan.
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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$176K

$673 / participant

Recordkeeping$29K16.6%
Investment mgmt$24K13.9%
Valuation$12K6.9%
Contract admin$61K34.5%
Other / not subdivided$49K28.1%

% of EOY assets

0.093%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FGMK, LLC
Auditor EIN: 362929601
Audit fees: $48,451
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$575,280

$106,230+441.5%

$147,080+291.1%

$77,736+640.0%

Participation rate

92.7%

78.4%+14.3pp

82.2%+10.5pp

70.6%+22.1pp

Annual return

29.79%

56.91%-27.1pp

420.17%-390.4pp

31.26%-1.5pp

Employer contribution / active EE

$29,240

$4,072+618.0%

$4,933+492.7%

$2,728+972.0%

Participant deferral / active EE

$5,070

$8,001-36.6%

$8,066-37.1%

$4,651+9.0%

Admin fee / account holder

$536

$338+58.3%

$12,989-95.9%

$433+23.6%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY4 years

Service code 13 · EIN 42-0127290

Contract Administrator

$89,310

NASIF, HICKS, HARRIS & CO, LLP1 year

Filed as: NASIF HICKS HARRIS & CO LLP.

Service code 10 · EIN 77-0181453

Accounting

$48,452

INDEPENDENT FINANCIAL PARTNERS3 years

Filed as: CHARTWELL

Service code 49 · EIN 36-4799908

Other Services

$27,782

MORNINGSTAR3 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26 · EIN 36-4317381

Advisory (Participants)

TOYON RESEARCH CORPORATION EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TOYON RESEARCH CORPORATION EMPLOYEE STOCK OWNERSHIP 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