Retirement plan

LECHNER AND SONS, INC. 401(K) RETIREMENT SAVINGS PLAN

Name: LECHNER & SONS, INC. - LECHNER AND SONS, INC. 401(K) RETIREMENT SAVINGS PLAN (2022) Form 5500
Creator: LECHNER & SONS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LECHNER AND SONS, INC. 401(K) RETIREMENT SAVINGS PLAN, LECHNER & SONS, INC.

LECHNER & SONS, INC.EIN 36-4409116Plan #001PY 2022

420 KINGSTON COURT - MOUNT PROSPECT, IL 60056847-789-3800

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$2.6M

-11.3% from 2021

Total participants

116

-3.3% from 2021

Average account balance

$36,943

-8.7% from 2021

Annual return

-18.40%

-22.42 pp from 2021

Benchmarks

See 9,364 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,364 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.13M

Not enough data

1 years with asset history on file

Average account balance

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

$57K

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.

39.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$303K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+24.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4692

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

Top 1 by compensation

Provider	Service type	Compensation
CORRELL CO.1 year Filed as: CORRELL CO Service code 15 · EIN 36-3492086	Recordkeeping	$9,849

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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$14K

$158 / participant

Investment mgmt$4K27.5%
Other / not subdivided$10K72.5%

% of EOY assets

0.525%

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: CRAIG & ASSOCIATES, LTD.
Auditor EIN: 200529789
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,943

$54,357-32.0%

$82,706-55.3%

$68,495-46.1%

Participation rate

46.5%

63.9%-17.4pp

72.6%-26.0pp

67.9%-21.4pp

Annual return

-18.40%

-13.67%-4.7pp

701.76%-720.2pp

-7.84%-10.6pp

Employer contribution / active EE

$1,771

$2,218-20.2%

$3,007-41.1%

$2,596-31.8%

Participant deferral / active EE

$2,124

$3,246-34.6%

$4,394-51.6%

$4,028-47.3%

Admin fee / account holder

$194

$4,396-95.6%

$5,329-96.4%

$5,403-96.4%

Provider

Service type

Compensation

CORRELL CO.1 year

Filed as: CORRELL CO

Service code 15 · EIN 36-3492086

Recordkeeping

$9,849

LECHNER AND SONS, INC. 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LECHNER AND SONS, INC. 401(K) RETIREMENT 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