Retirement plan

LANNETT COMPANY, INC. 401(K) RETIREMENT SAVINGS PLAN

Name: LANNETT COMPANY, INC. - LANNETT COMPANY, INC. 401(K) RETIREMENT SAVINGS PLAN (2017) Form 5500
Creator: LANNETT COMPANY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LANNETT COMPANY, INC. 401(K) RETIREMENT SAVINGS PLAN, LANNETT COMPANY, INC.

LANNETT COMPANY, INC.EIN 23-0787699Plan #002PY 2017

9000 STATE RD. - PHILADELPHIA, PA 19136215-333-9000lannett.comLinkedIn1001-5000 employeespharmaceuticals

Prospect flagsFailed to provide benefitCorrective distributions

Top hat statement on fileNQDC

Filed September 19, 2019

Plan administrator

Plan administrator name— Sign in and upgrade to view

9000 State Rd

Philadelphia, PA 19154

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Plans declared (1)

Lannet Company Non-Qualified Deferred Compensation Plan12 emp

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Total assets (EOY)

$81.2M

+23.8% from 2016

Total participants

1,326

+4.2% from 2016

Average account balance

$64,166

+19.2% from 2016

Annual return

22.02%

-196.10 pp from 2016

Benchmarks

See 384 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort384 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$97.38M

Not enough data

1 years with asset history on file

Average account balance

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

$112K

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.

871

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.

95.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.99M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+15.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$281

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
BCG SECURITIES2 years Filed as: BCG SECURITIES, INC. Service code 27 51 HADDONFIELD ROAD · CHERY HILL, NJ 08002	Advisory (Plan)	$92,628
FIDELITY INVESTMENTS INSTITUTIONAL3+ years Service code 37 · EIN 04-2647786	Loan Processing	$51,367
EISNERAMPER LLP3+ years Service code 10 · EIN 13-1639826	Accounting	$33,760
PILLAR WEALTH ADVISORS LLC1 year Filed as: PILLAR BENEFITS GROUP, INC. Service code 27 · EIN 27-2291225	Advisory (Plan)	$12,300

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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.
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

ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$194K

$173 / participant

Investment mgmt$3K1.8%
Other / not subdivided$190K98.2%

% of EOY assets

0.238%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: EISNERAMPER LLP
Auditor EIN: 131639826
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$64,166

$90,410-29.0%

$91,004-29.5%

$77,958-17.7%

Participation rate

94.5%

86.4%+8.1pp

75.6%+18.9pp

71.6%+22.9pp

Annual return

22.02%

21.34%+0.7pp

4.60%+17.4pp

20.87%+1.2pp

Employer contribution / active EE

$1,883

$3,392-44.5%

$2,456-23.3%

$2,310-18.5%

Participant deferral / active EE

$4,771

$4,816-0.9%

$3,548+34.5%

$3,537+34.9%

Admin fee / account holder

$153

$79+93.8%

$5,417-97.2%

$97+57.1%

Provider

Service type

Compensation

BCG SECURITIES2 years

Filed as: BCG SECURITIES, INC.

Service code 27

51 HADDONFIELD ROAD · CHERY HILL, NJ 08002

Advisory (Plan)

$92,628

FIDELITY INVESTMENTS INSTITUTIONAL3+ years

Service code 37 · EIN 04-2647786

Loan Processing

$51,367

EISNERAMPER LLP3+ years

Service code 10 · EIN 13-1639826

Accounting

$33,760

PILLAR WEALTH ADVISORS LLC1 year

Filed as: PILLAR BENEFITS GROUP, INC.

Service code 27 · EIN 27-2291225

Advisory (Plan)

$12,300

LANNETT COMPANY, INC. 401(K) RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LANNETT COMPANY, INC. 401(K) RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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