Retirement plan

CONCORD LUMBER PROFIT SHARING 401K PLAN

Name: CONCORD LUMBER CORPORATION - CONCORD LUMBER PROFIT SHARING 401K PLAN (2022) Form 5500
Creator: CONCORD LUMBER CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CONCORD LUMBER PROFIT SHARING 401K PLAN, CONCORD LUMBER CORPORATION

CONCORD LUMBER CORPORATIONEIN 04-2482120Plan #002PY 2022

2 OMEGA WAY - LITTLETON, MA 01460978-486-9877concordmobilrepair.comLinkedIn1-10 employeesindividual & family services

Other plans on this EIN

1 filing

#003Retirement-$8.0M assets

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$7.4M

+2.6% from 2021

Total participants

198

+11.2% from 2021

Average account balance

$55,244

+1.9% from 2021

Annual return

7.81%

-33.49 pp from 2021

Benchmarks

See 2,205 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,205 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.50M

Not enough data

1 years with asset history on file

Average account balance

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

$52K

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.

143

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$343K

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

+5.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$20

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 1 by compensation

Provider	Service type	Compensation
AMERICAN UNITED LIFE INSURANCE CO6 years Service code 15 · EIN 35-0145825	Recordkeeping	$27,506

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

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.
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

$513

$3 / participant

Contract admin$513100.0%

% of EOY assets

0.007%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SULLIVAN BILLE P.C.
Auditor EIN: 043296201
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$55,244

$49,451+11.7%

$79,580-30.6%

$66,938-17.5%

Participation rate

59.7%

61.3%-1.6pp

69.5%-9.7pp

69.8%-10.1pp

Annual return

7.81%

84.25%-76.4pp

0.15%+7.7pp

1.58%+6.2pp

Employer contribution / active EE

$1,266-100.0%

$2,413-100.0%

$2,545-100.0%

Participant deferral / active EE

$1,589

$3,159-49.7%

$3,985-60.1%

$4,238-62.5%

Admin fee / account holder

$595-99.4%

$6,835-99.9%

$594-99.4%

Provider

Service type

Compensation

AMERICAN UNITED LIFE INSURANCE CO6 years

Service code 15 · EIN 35-0145825

Recordkeeping

$27,506

CONCORD LUMBER PROFIT SHARING 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CONCORD LUMBER PROFIT SHARING 401K 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