Retirement plan

RICHARD LUNDGREN, INC. 401(K) PLAN

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

RICHARD LUNDGREN, INC.EIN 04-2324062Plan #001PY 2024

163 WASHINGTON STREET - AUBURN, MA 01501508-832-6200LinkedIn51-200 employeesretail

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$10.1M

+23.6% from 2023

Total participants

389

+0.8% from 2023

Average account balance

$40,658

+17.6% from 2023

Annual return

16.07%

-4.38 pp from 2023

Benchmarks

See 1,308 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,308 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$10.08M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

248

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.

47.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$846K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+16.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$106

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
GRIMES & COMPANY, INC.3 years Filed as: GRIMES & COMPANY Service code 26 110 TURNPIKE RD #100 · WESTBOROUGH, MA 01581	Advisory (Participants)	$20,797
THE ANGELL PENSION GROUP, INC.3 years Service code 10 88 BOYD AVENUE · EAST PROVIDENCE, RI 02914	Accounting	$3,250
AMERICAN FUNDS7 years Filed as: CAPITAL RESEARCH MANAGEMENT COMPANY Service code 15 333 SOUTH HOPE STREET 55TH FLOOR · LOS ANGELES, CA 90071	Recordkeeping	$2,225

Plan features & details

Pension benefit codes2A2E2F2G2J2K3D3H2X

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$26K

$98 / participant

Other / not subdivided$26K100.0%

% of EOY assets

0.261%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: ALBIN, RANDALL & BENNETT
Auditor EIN: 010448006
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$40,658

$54,193-25.0%

$93,606-56.6%

$77,643-47.6%

Participation rate

47.2%

63.9%-16.7pp

68.7%-21.5pp

70.6%-23.4pp

Annual return

16.07%

30.54%-14.5pp

133.20%-117.1pp

31.24%-15.2pp

Employer contribution / active EE

$361

$1,168-69.1%

$2,420-85.1%

$2,726-86.7%

Participant deferral / active EE

$2,807

$3,144-10.7%

$4,411-36.4%

$4,647-39.6%

Admin fee / account holder

$106

$576-81.6%

$8,285-98.7%

$430-75.4%

Provider

Service type

Compensation

GRIMES & COMPANY, INC.3 years

Filed as: GRIMES & COMPANY

Service code 26

110 TURNPIKE RD #100 · WESTBOROUGH, MA 01581

Advisory (Participants)

$20,797

THE ANGELL PENSION GROUP, INC.3 years

Service code 10

88 BOYD AVENUE · EAST PROVIDENCE, RI 02914

Accounting

$3,250

AMERICAN FUNDS7 years

Filed as: CAPITAL RESEARCH MANAGEMENT COMPANY

Service code 15

333 SOUTH HOPE STREET 55TH FLOOR · LOS ANGELES, CA 90071

Recordkeeping

$2,225

RICHARD LUNDGREN, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RICHARD LUNDGREN, INC. 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