Retirement plan

THE LEAD GROUP OF COMPANIES 401(K) PLAN

Name: RESOURCE TECHNOLOGY CORPORATION - THE LEAD GROUP OF COMPANIES 401(K) PLAN (2023) Form 5500
Creator: RESOURCE TECHNOLOGY CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE LEAD GROUP OF COMPANIES 401(K) PLAN, RESOURCE TECHNOLOGY CORPORATION

RESOURCE TECHNOLOGY CORPORATIONdba THE LEAD GROUP OF COMPANIES, INCEIN 38-2959323Plan #333PY 2023

431 STEPHENSON HIGHWAY - TROY, MI 48083248-585-4750

Prospect flagsLow assets / participantLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$16.8M

+9.0% from 2022

Total participants

528

+6.7% from 2022

Average account balance

$34,202

+2.1% from 2022

Annual return

16.62%

+30.21 pp from 2022

Benchmarks

See 2,346 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,346 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.99M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

488

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.

81.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$786K

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

+11.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$160

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 3 by compensation

Provider	Service type	Compensation
HUNTINGTON NATIONAL BANK3 years Service code 15 · EIN 31-0966785	Recordkeeping	$62,576
THE VANGUARD GROUP, INC.1 year Service code 15 · EIN 23-1945930	Recordkeeping	$6,436
THE BANK OF NEW YORK MELLON1 year Filed as: BANK OF ANN ARBOR Service code 27 125 S. FIFTH ST · ANN ARBOR, MI 48104	Advisory (Plan)	$2,527

Plan features & details

Pension benefit codes2S2E3D2G2J2K2F2T3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match 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

$72K

$347 / participant

Investment mgmt$3K3.5%
Contract admin$6K9.0%
Other / not subdivided$63K87.5%

% of EOY assets

0.425%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: GORDON ADVISORS, P. C.
Auditor EIN: 382656556
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,202

$83,045-58.8%

$130,045-73.7%

$71,511-52.2%

Participation rate

82.5%

74.1%+8.4pp

78.5%+4.0pp

67.9%+14.6pp

Annual return

16.62%

20.61%-4.0pp

-137.30%+153.9pp

28.86%-12.2pp

Employer contribution / active EE

$74

$2,623-97.2%

$4,321-98.3%

$2,589-97.1%

Participant deferral / active EE

$4,237

$4,436-4.5%

$5,820-27.2%

$4,291-1.2%

Admin fee / account holder

$145

$1,727-91.6%

$10,600-98.6%

$1,588-90.8%

Provider

Service type

Compensation

HUNTINGTON NATIONAL BANK3 years

Service code 15 · EIN 31-0966785

Recordkeeping

$62,576

THE VANGUARD GROUP, INC.1 year

Service code 15 · EIN 23-1945930

Recordkeeping

$6,436

THE BANK OF NEW YORK MELLON1 year

Filed as: BANK OF ANN ARBOR

Service code 27

125 S. FIFTH ST · ANN ARBOR, MI 48104

Advisory (Plan)

$2,527

THE LEAD GROUP OF COMPANIES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE LEAD GROUP OF COMPANIES 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