Retirement plan

LUMITE, INC. 401(K) SAVINGS PLAN

Name: LUMITE, INC. - LUMITE, INC. 401(K) SAVINGS PLAN (2023) Form 5500
Creator: LUMITE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LUMITE, INC. 401(K) SAVINGS PLAN, LUMITE, INC.

LUMITE, INC.EIN 20-1040863Plan #001PY 2023

1515 NORTH COUNTY LINE ROAD - ALTO, GA 30510770-869-1700LinkedIn11-50 employeestextiles

Prospect flagsLow returnsLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$5M

+12.3% from 2022

Total participants

184

-2.1% from 2022

Average account balance

$32,290

+2.9% from 2022

Annual return

10.50%

+23.52 pp from 2022

Benchmarks

See 939 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort939 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.19M

Not enough data

1 years with asset history on file

Average account balance

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

$34K

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.

151

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.

75.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$470K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+8.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 3 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$1,774
GREAT-WEST LIFE & ANNUITY INSURANCE6 years Filed as: DYATECH LLC Service code 13 381 HIGHLAND COLONY PARKWAY · RIDGELAND, MS 39157	Contract Administrator	$1,595
TRIAD ADVISORS INC6 years Filed as: TRIAD INSURANCE INC Service code 53 440 BISCAYNE BLVD #1111 · MIAMI, FL 331373212	Insurance Commissions	$0

Plan features & details

Pension benefit codes2D2E2F2G2J2K3D

Plan features

2D
Offset plan
Plan benefits are subject to offset for retirement benefits provided in another plan or arrangement of the employer.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$774

$6 / participant

Recordkeeping$774100.0%

% of EOY assets

0.015%

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: RUSHTON, LLC
Auditor EIN: 582282374
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,290

$56,423-42.8%

$77,183-58.2%

$71,495-54.8%

Participation rate

77.6%

64.3%+13.3pp

69.6%+8.0pp

67.9%+9.7pp

Annual return

10.50%

19.05%-8.5pp

37.89%-27.4pp

28.85%-18.4pp

Employer contribution / active EE

$943

$1,866-49.4%

$2,534-62.8%

$2,589-63.6%

Participant deferral / active EE

$2,396

$3,142-23.7%

$3,833-37.5%

$4,291-44.2%

Admin fee / account holder

$1,429-99.7%

$5,475-99.9%

$1,588-99.7%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$1,774

GREAT-WEST LIFE & ANNUITY INSURANCE6 years

Filed as: DYATECH LLC

Service code 13

381 HIGHLAND COLONY PARKWAY · RIDGELAND, MS 39157

Contract Administrator

$1,595

TRIAD ADVISORS INC6 years

Filed as: TRIAD INSURANCE INC

Service code 53

440 BISCAYNE BLVD #1111 · MIAMI, FL 331373212

Insurance Commissions

LUMITE, INC. 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LUMITE, INC. 401(K) SAVINGS 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