Retirement plan

RITEC 401(K) PROFIT SHARING PLAN

Name: RUGGED INFORMATION TECHNOLOGY EQUIPMENT CORP. DBA RITEC - RITEC 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: RUGGED INFORMATION TECHNOLOGY EQUIPMENT CORP. DBA RITEC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RITEC 401(K) PROFIT SHARING PLAN, RUGGED INFORMATION TECHNOLOGY EQUIPMENT CORP. DBA RITEC

RUGGED INFORMATION TECHNOLOGY EQUIPMENT CORP. DBA RITECEIN 95-4621211Plan #001PY 2023

25 EAST EASY STREET - SIMI VALLEY, CA 93065805-577-9710LinkedIn11-50 employeescomputer hardware

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$5M

+24.0% from 2022

Total participants

0.0% from 2022

Average account balance

$97,219

+19.2% from 2022

Annual return

19.75%

+42.20 pp from 2022

Benchmarks

See 14,456 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,456 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.70M

Not enough data

1 years with asset history on file

Average account balance

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

$134K

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.

128.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$339K

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

+15.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10497

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

$131K

$3844 / participant

Other / not subdivided$131K100.0%

% of EOY assets

2.636%

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

$97,219

$80,992+20.0%

$96,534+0.7%

$75,173+29.3%

Participation rate

97.1%

71.8%+25.3pp

76.0%+21.1pp

67.2%+29.9pp

Annual return

19.75%

27.05%-7.3pp

25.88%-6.1pp

160.72%-141.0pp

Employer contribution / active EE

$2,653

$2,283+16.2%

$2,965-10.5%

$2,671-0.7%

Participant deferral / active EE

$5,872

$3,929+49.4%

$4,851+21.0%

$4,126+42.3%

Admin fee / account holder

$2,563

$6,717-61.8%

$8,253-68.9%

$5,651-54.6%

RITEC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RITEC 401(K) PROFIT SHARING 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