Retirement plan

LONG OIL HEAT, INC. 401K PROFIT SHARING PLAN & TRUST

Name: LONG OIL HEAT, INC. - LONG OIL HEAT, INC. 401K PROFIT SHARING PLAN & TRUST (2024) Form 5500
Creator: LONG OIL HEAT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LONG OIL HEAT, INC. 401K PROFIT SHARING PLAN & TRUST, LONG OIL HEAT, INC.

LONG OIL HEAT, INC.EIN 14-1470215Plan #001PY 2024

2880 CURRY ROAD - SCHENECTADY, NY 12303518-465-6647LinkedIn51-200 employeesretail

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$9.5M

+7.8% from 2023

Total participants

128

+20.8% from 2023

Average account balance

$80,979

-5.1% from 2023

Annual return

10.45%

-7.18 pp from 2023

Benchmarks

See 2,435 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort2,435 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.47M

Not enough data

1 years with asset history on file

Average account balance

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

$81K

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.

117

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.

160.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$384K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+10.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5792

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 codes2E2J2H2F2T3D

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.
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.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$678K

$9284 / participant

Other / not subdivided$678K100.0%

% of EOY assets

7.153%

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

$80,979

$61,787+31.1%

$97,197-16.7%

$80,925+0.1%

Participation rate

84.9%

63.5%+21.5pp

72.7%+12.2pp

67.7%+17.3pp

Annual return

10.45%

-558.16%+568.6pp

75.47%-65.0pp

35.65%-25.2pp

Employer contribution / active EE

$2,460

$1,836+34.0%

$2,723-9.7%

$2,756-10.8%

Participant deferral / active EE

$2,802

$3,027-7.5%

$4,263-34.3%

$4,299-34.8%

Admin fee / account holder

$5,792

$5,170+12.0%

$5,637+2.8%

$6,940-16.5%

LONG OIL HEAT, INC. 401K PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LONG OIL HEAT, INC. 401K PROFIT SHARING PLAN & TRUST

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