Retirement plan

LATITUDE 36 FOODS LLC 401(K) PLAN

Name: LATITUDE 36 FOODS LLC - LATITUDE 36 FOODS LLC 401(K) PLAN (2021) Form 5500
Creator: LATITUDE 36 FOODS LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LATITUDE 36 FOODS LLC 401(K) PLAN, LATITUDE 36 FOODS LLC

LATITUDE 36 FOODS LLCEIN 35-2594469Plan #001PY 2021

15 E. GABILAN STREET - SALINAS, CA 93902831-818-5246latitude36foods.comLinkedIn501-1000 employeesfood production

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$6.1M

+49.9% from 2020

Total participants

604

+12.9% from 2020

Average account balance

$31,930

-4.3% from 2020

Annual return

26.65%

+16.81 pp from 2020

Benchmarks

See 703 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort703 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.67M

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

250

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.

23.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.91M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+12.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$229

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

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
MINNESOTA LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 41-0417830	Contract Administrator	$7,555

Plan features & details

Pension benefit codes2E2F2G2J2T3B3D

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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 participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$8K

$13 / participant

Contract admin$8K100.0%

% of EOY assets

0.124%

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: HASKELL & WHITE LLP
Auditor EIN: 330310569
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$31,930

$66,528-52.0%

$86,615-63.1%

$86,821-63.2%

Participation rate

29.8%

72.4%-42.6pp

71.6%-41.9pp

72.3%-42.5pp

Annual return

26.65%

19.56%+7.1pp

63.51%-36.9pp

97.94%-71.3pp

Employer contribution / active EE

$662

$2,007-67.0%

$2,496-73.5%

$2,406-72.5%

Participant deferral / active EE

$1,268

$3,240-60.9%

$3,699-65.7%

$4,132-69.3%

Admin fee / account holder

$40

$148-73.3%

$5,830-99.3%

$170-76.7%

Provider

Service type

Compensation

MINNESOTA LIFE INSURANCE COMPANY4+ years

Service code 13 · EIN 41-0417830

Contract Administrator

$7,555

LATITUDE 36 FOODS LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LATITUDE 36 FOODS LLC 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