Retirement plan

LAMORTE BURNS & CO., INC. 401(K) PROFIT SHARING PLAN

Name: LAMORTE BURNS & CO., INC. - LAMORTE BURNS & CO., INC. 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: LAMORTE BURNS & CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LAMORTE BURNS & CO., INC. 401(K) PROFIT SHARING PLAN, LAMORTE BURNS & CO., INC.

LAMORTE BURNS & CO., INC.EIN 13-3010236Plan #001PY 2020

8 WRIGHT STREET, SUITE 107 - WESTPORT, CT 06880203-761-6000lamorteburns.comLinkedIn1-10 employees

Prospect flagsHigh feesLow fidelity bondWind-down / frozen

How to read this page

Total assets (EOY)

$2.8M

-25.8% from 2019

Total participants

-26.2% from 2019

Average account balance

$63,410

-10.7% from 2019

Annual return

10.88%

-1.52 pp from 2019

Benchmarks

See 32,149 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort32,149 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.60M

Not enough data

1 years with asset history on file

Average account balance

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

$118K

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.

440.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$30K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+11.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7360

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 codes2E2F2H2J3D3H

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II

Admin total

$1.5M

$188815 / participant

Other / not subdivided$2M100.0%

% of EOY assets

54.140%

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

$63,410

$197,637-67.9%

$177,848-64.3%

$158,982-60.1%

Participation rate

87.5%

88.5%-1.0pp

87.7%-0.2pp

82.0%+5.5pp

Annual return

10.88%

58.77%-47.9pp

48.33%-37.4pp

302.99%-292.1pp

Employer contribution / active EE

$6,698-100.0%

$5,919-100.0%

$4,763-100.0%

Participant deferral / active EE

$10,329

$8,405+22.9%

$7,714+33.9%

$5,983+72.6%

Admin fee / account holder

$34,330

$15,406+122.8%

$12,431+176.2%

$11,252+205.1%

LAMORTE BURNS & CO., INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LAMORTE BURNS & CO., INC. 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