Retirement plan

LMC FAMILY OF COMPANIES 401(K) PLAN

Name: LMC INDUSTRIAL CONTRACTORS, INC. - LMC FAMILY OF COMPANIES 401(K) PLAN (2022) Form 5500
Creator: LMC INDUSTRIAL CONTRACTORS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LMC FAMILY OF COMPANIES 401(K) PLAN, LMC INDUSTRIAL CONTRACTORS, INC.

LMC INDUSTRIAL CONTRACTORS, INC.EIN 16-1204041Plan #002PY 2022

2060 LAKEVILLE ROAD - AVON, NY 14414585-226-6244lmcic.comLinkedIn201-500 employeesconstruction

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$4.3M

-9.5% from 2021

Total participants

130

+7.4% from 2021

Average account balance

$57,277

-21.6% from 2021

Annual return

-13.83%

-28.57 pp from 2021

Benchmarks

See 2,998 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,998 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.75M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

57.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$889K

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

+15.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$17663

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

Top 1 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER LIFE & ANNUITY INSURANCE Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$25

Plan features & details

Pension benefit codes2E2G2J3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$9K

$87 / participant

Investment mgmt$9K100.0%

% of EOY assets

0.219%

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: FREED MAXICK, CPAS, PC
Auditor EIN: 454051133
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$57,277

$64,176-10.8%

$112,263-49.0%

$66,949-14.4%

Participation rate

49.1%

68.4%-19.4pp

75.1%-26.0pp

69.8%-20.7pp

Annual return

-13.83%

-13.80%0pp

27.49%-41.3pp

1.57%-15.4pp

Employer contribution / active EE

$3,007-100.0%

$3,636-100.0%

$2,545-100.0%

Participant deferral / active EE

$3,950

$3,694+6.9%

$4,729-16.5%

$4,239-6.8%

Admin fee / account holder

$126

$626-79.9%

$6,410-98.0%

$594-78.9%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER LIFE & ANNUITY INSURANCE

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$25

LMC FAMILY OF COMPANIES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LMC FAMILY OF COMPANIES 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