Retirement plan

LUCK BROTHERS, INC. PROFIT SHARING/401(K) PLAN

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

LUCK BROTHERS, INC.EIN 14-1509121Plan #002PY 2024

73 TRADE ROAD - PLATTSBURGH, NY 12901518-561-4321

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$31.1M

+5.6% from 2023

Total participants

182

-5.7% from 2023

Average account balance

$171,807

+12.6% from 2023

Annual return

13.89%

-2.55 pp from 2023

Benchmarks

See 3,451 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,451 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$31.10M

Not enough data

1 years with asset history on file

Average account balance

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

$172K

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.

181

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

$1.79M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+13.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$852

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 4 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.7 years Filed as: MML INVESTORS SERVICES LLC Service code 27 PO BOX 9500 · SPRINGFIELD, MA 011029500	Advisory (Plan)	$61,009
TEAL, BECKER & CHIARAMONTE CPAS PC3 years Filed as: TEAL BECKER & CHIARAMONTE, CPAS PC Service code 13 7 WASHINGTON SQUARE · ALBANY, NY 12205	Contract Administrator	$23,651
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER LIFE & ANNUITY INS CO OF NY Service code 64 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$8,503
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$539

Plan features & details

Pension benefit codes2A2E2F2G2J2S2T3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$154K

$1342 / participant

Investment mgmt$61K39.5%
Contract admin$104K67.1%

% of EOY assets

0.496%

all-in expense ratio

Categories reported

2 / 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: MARTINDALE KEYSOR & CO., PLLC
Auditor EIN: 141818557
Audit fees: $-10,250
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$171,807

$80,724+112.8%

$103,333+66.3%

$74,495+130.6%

Participation rate

99.1%

65.7%+33.4pp

74.5%+24.6pp

67.2%+31.9pp

Annual return

13.89%

27.56%-13.7pp

24.88%-11.0pp

1364.94%-1351.1pp

Employer contribution / active EE

$10,620

$3,157+236.4%

$3,868+174.6%

$2,623+304.9%

Participant deferral / active EE

$4,928

$3,860+27.7%

$5,057-2.6%

$4,346+13.4%

Admin fee / account holder

$852

$2,368-64.0%

$8,355-89.8%

$1,942-56.1%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.7 years

Filed as: MML INVESTORS SERVICES LLC

Service code 27

PO BOX 9500 · SPRINGFIELD, MA 011029500

Advisory (Plan)

$61,009

TEAL, BECKER & CHIARAMONTE CPAS PC3 years

Filed as: TEAL BECKER & CHIARAMONTE, CPAS PC

Service code 13

7 WASHINGTON SQUARE · ALBANY, NY 12205

Contract Administrator

$23,651

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER LIFE & ANNUITY INS CO OF NY

Service code 64

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$8,503

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$539

LUCK BROTHERS, INC. PROFIT SHARING/401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LUCK BROTHERS, INC. 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