Retirement plan

L.T. VERRASTRO, INC. 401(K) PLAN FOR UNION EMPLOYEES

Name: L.T. VERRASTRO, INC. - L.T. VERRASTRO, INC. 401(K) PLAN FOR UNION EMPLOYEES (2024) Form 5500
Creator: L.T. VERRASTRO, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, L.T. VERRASTRO, INC. 401(K) PLAN FOR UNION EMPLOYEES, L.T. VERRASTRO, INC.

L.T. VERRASTRO, INC.EIN 23-1995582Plan #003PY 2024

700 MOOSIC ROAD - OLD FORGE, PA 18518570-343-2454ltverrastro.comLinkedIn51-200 employeesfood production

Other plans on this EIN

1 filing

#002Retirement-$10.8M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$6.2M

+7.4% from 2023

Total participants

103

-4.6% from 2023

Average account balance

$60,911

+13.8% from 2023

Annual return

16.22%

-5.86 pp from 2023

Benchmarks

See 8,993 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort8,993 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.21M

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

102

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.

134.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$330K

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

+16.22%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8380

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 codes2E2F2G2J3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$855K

$11247 / participant

Other / not subdivided$855K100.0%

% of EOY assets

13.758%

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

$60,911

$101,795-40.2%

$165,100-63.1%

$80,959-24.8%

Participation rate

98.7%

71.8%+26.9pp

78.6%+20.1pp

67.7%+31.0pp

Annual return

16.22%

16.73%-0.5pp

70.21%-54.0pp

35.67%-19.4pp

Employer contribution / active EE

$2,194

$2,954-25.7%

$4,348-49.5%

$2,757-20.4%

Participant deferral / active EE

$2,150

$4,476-52.0%

$6,035-64.4%

$4,300-50.0%

Admin fee / account holder

$8,380

$8,221+1.9%

$12,696-34.0%

$6,925+21.0%

L.T. VERRASTRO, INC. 401(K) PLAN FOR UNION EMPLOYEES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

L.T. VERRASTRO, INC. 401(K) PLAN FOR UNION EMPLOYEES

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