2023 Form 5500 filing — Cornwell Quality Tools Company Profit Sharing 401(K) Plan
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20241015134312NAL0016517251001) for Cornwell Quality Tools Company Profit Sharing 401(K) Plan, reported by Cornwell Quality Tools Company under EIN 34-0165010 and plan number 002. It reports 337 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20241015134312NAL0016517251001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Cornwell Quality Tools Company
- EIN
- 34-0165010
- Plan number
- 002
- Location
- Wadsworth, OH
- Participants
- 337
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $11,757,609
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $11,757,609
- Participant contributions
- $1,138,129
- Total income / additions
- $2,893,895
- Benefits paid
- $1,657,971
- Administrative expenses
- $145,916
- Total expenses
- $1,784,553
- Net increase / (decrease)
- $1,109,342
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $113,635 | $0 |
| Merrill Lynch Pierce Fenner & Smith | BROKERAGE | $0 | $31,201 |
| Empower Annuity Insurance Company | RECORDKEEPER/BOOKKEEPER | $21,408 | $0 |
| Pnc Bank | INVESTMENT ADVISORY | $8,163 | not reported in the loaded dataset |
| Kline Keppel & Koryak Pc | CONTRACT ADMINISTRATOR | $0 | $5,000 |