Retirement plan

MOYNIHAN LUMBER PROFIT SHARING PLAN

Name: MOYNIHAN-NORTH READING LUMBER, INC. - MOYNIHAN LUMBER PROFIT SHARING PLAN (2024) Form 5500
Creator: MOYNIHAN-NORTH READING LUMBER, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MOYNIHAN LUMBER PROFIT SHARING PLAN, MOYNIHAN-NORTH READING LUMBER, INC.

MOYNIHAN-NORTH READING LUMBER, INC.EIN 04-2261995Plan #001PY 2024

164 CHESTNUT STREET - NORTH READING, MA 01864781-944-8500LinkedIn51-200 employeesbuilding materials

Prospect flagsLow returnsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$11.6M

-0.5% from 2023

Total participants

156

+1.3% from 2023

Average account balance

$88,592

-0.5% from 2023

Annual return

10.13%

-1.21 pp from 2023

Benchmarks

See 2,313 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,313 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.61M

Not enough data

1 years with asset history on file

Average account balance

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

$89K

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.

131

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.

81.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$329K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+10.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$880

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
ROCKLAND TRUST3 years Service code 27 101 ARCH STREET, STE. 2020 · BOSTON, MA 02110	Advisory (Plan)	$57,683
BENEFIT PLANS ADMIN SERVICES, INC.3 years Service code 15 · EIN 16-1503696	Recordkeeping	$31,338
FORVIS, LLP3 years Filed as: MAZARS USA, LLP Service code 10 · EIN 13-1459550	Accounting	$26,250

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$115K

$873 / participant

Investment mgmt$58K50.0%
Contract admin$31K27.2%
Other / not subdivided$26K22.8%

% of EOY assets

0.993%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS MAZARS, LLP
Auditor EIN: 440160260
Audit fees: $26,250
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$88,592

$59,456+49.0%

$93,669-5.4%

$74,429+19.0%

Participation rate

81.1%

59.6%+21.4pp

68.7%+12.3pp

67.2%+13.8pp

Annual return

10.13%

82.00%-71.9pp

133.59%-123.5pp

1368.38%-1358.3pp

Employer contribution / active EE

$1,515

$1,266+19.7%

$2,424-37.5%

$2,625-42.3%

Participant deferral / active EE

$976

$3,052-68.0%

$4,416-77.9%

$4,348-77.5%

Admin fee / account holder

$880

$3,026-70.9%

$8,291-89.4%

$1,944-54.7%

Provider

Service type

Compensation

ROCKLAND TRUST3 years

Service code 27

101 ARCH STREET, STE. 2020 · BOSTON, MA 02110

Advisory (Plan)

$57,683

BENEFIT PLANS ADMIN SERVICES, INC.3 years

Service code 15 · EIN 16-1503696

Recordkeeping

$31,338

FORVIS, LLP3 years

Filed as: MAZARS USA, LLP

Service code 10 · EIN 13-1459550

Accounting

$26,250

MOYNIHAN LUMBER PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MOYNIHAN LUMBER 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