Retirement plan

LINEAGE PROFIT SHARING 401(K) PLAN

Name: INNOVATIVE OFFICE SYSTEMS, LLC - LINEAGE PROFIT SHARING 401(K) PLAN (2020) Form 5500
Creator: INNOVATIVE OFFICE SYSTEMS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LINEAGE PROFIT SHARING 401(K) PLAN, INNOVATIVE OFFICE SYSTEMS, LLC

INNOVATIVE OFFICE SYSTEMS, LLCEIN 13-4206702Plan #001PY 2020

1629 CROSS BEAM DR. - CHARLOTTE, NC 28217704-559-6569

Prospect flagsLow returnsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$6.5M

+11.1% from 2019

Total participants

107

+27.4% from 2019

Average account balance

$62,617

-10.3% from 2019

Annual return

5.26%

-13.26 pp from 2019

Benchmarks

See 9,207 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,207 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.22M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

160

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.

99.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$709K

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

+13.34%

Not enough data

1 years with return on file

Admin fee / account holder

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

$206

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

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 codes2E2F2H2J2R2T3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.

Opportunity flags

3 tripped

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.
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$367K

$4478 / participant

Other / not subdivided$367K100.0%

% of EOY assets

5.639%

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

$62,617

$91,559-31.6%

$133,971-53.3%

$79,852-21.6%

Participation rate

96.3%

73.3%+23.0pp

79.8%+16.5pp

69.6%+26.7pp

Annual return

5.26%

61.85%-56.6pp

45.09%-39.8pp

31.72%-26.5pp

Employer contribution / active EE

$6,282

$2,384+163.5%

$3,919+60.3%

$2,471+154.2%

Participant deferral / active EE

$2,109

$3,734-43.5%

$5,047-58.2%

$3,740-43.6%

Admin fee / account holder

$3,531

$6,321-44.1%

$8,929-60.5%

$5,306-33.5%

LINEAGE PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LINEAGE PROFIT SHARING 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