Retirement plan

LOFTUS CONSTRUCTION, INC. UNION EMPLOYEES 401(K) PLAN

Name: LOFTUS CONSTRUCTION, INC. - LOFTUS CONSTRUCTION, INC. UNION EMPLOYEES 401(K) PLAN (2022) Form 5500
Creator: LOFTUS CONSTRUCTION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LOFTUS CONSTRUCTION, INC. UNION EMPLOYEES 401(K) PLAN, LOFTUS CONSTRUCTION, INC.

LOFTUS CONSTRUCTION, INC.EIN 22-3336574Plan #003PY 2022

1903 TAYLORS LANE - CINNAMINSON, NJ 08077856-786-6607loftusconstruction.comLinkedIn11-50 employeescivil engineering

Other plans on this EIN

1 filing

#002Retirement-$3.2M assets

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$2.5M

-14.4% from 2021

Total participants

-3.6% from 2021

Average account balance

$182,099

-14.4% from 2021

Annual return

-17.25%

-31.36 pp from 2021

Benchmarks

See 17,340 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort17,340 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.09M

Not enough data

1 years with asset history on file

Average account balance

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

$315K

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.

41.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$152K

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

+14.19%

Not enough data

1 years with return on file

Admin fee / account holder

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

$18536

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 codes2E2F2G2J2T3D

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).
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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$400

$16 / participant

Other / not subdivided$400100.0%

% of EOY assets

0.016%

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

$182,099

$64,729+181.3%

$112,263+62.2%

$68,490+165.9%

Participation rate

48.0%

67.2%-19.2pp

75.1%-27.1pp

67.9%-19.9pp

Annual return

-17.25%

-11.40%-5.8pp

27.49%-44.7pp

-7.85%-9.4pp

Employer contribution / active EE

$2,746-100.0%

$3,636-100.0%

$2,597-100.0%

Participant deferral / active EE

$3,371

$3,566-5.5%

$4,729-28.7%

$4,028-16.3%

Admin fee / account holder

$29

$5,222-99.5%

$6,410-99.6%

$5,403-99.5%

LOFTUS CONSTRUCTION, INC. UNION EMPLOYEES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOFTUS CONSTRUCTION, INC. UNION EMPLOYEES 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