Retirement plan

LOVELACE PUMP COMPANY RETIREMENT SAVINGS PLAN

Name: LOVELACE PUMP COMPANY, INC. - LOVELACE PUMP COMPANY RETIREMENT SAVINGS PLAN (2021) Form 5500
Creator: LOVELACE PUMP COMPANY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LOVELACE PUMP COMPANY RETIREMENT SAVINGS PLAN, LOVELACE PUMP COMPANY, INC.

LOVELACE PUMP COMPANY, INC.EIN 39-1674850Plan #001PY 2021

9914 COUNTY M - ARGYLE, WI 53504608-465-3314lovelacewellandpump.comLinkedIn11-50 employeesconstruction

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.4M

-29.9% from 2020

Total participants

-38.1% from 2020

Average account balance

$108,698

+7.9% from 2020

Annual return

10.77%

-4.53 pp from 2020

Benchmarks

See 44,693 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort44,693 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.73M

Not enough data

1 years with asset history on file

Average account balance

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

$102K

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.

170.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$72K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+10.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3696

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$874K

$109226 / participant

Other / not subdivided$874K100.0%

% of EOY assets

61.837%

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

$108,698

$124,351-12.6%

$109,188-0.4%

$167,553-35.1%

Participation rate

100.0%

79.4%+20.6pp

75.9%+24.1pp

82.1%+17.9pp

Annual return

10.77%

26.04%-15.3pp

25.76%-15.0pp

478.89%-468.1pp

Employer contribution / active EE

$1,902

$4,210-54.8%

$3,723-48.9%

$4,840-60.7%

Participant deferral / active EE

$5,039

$5,257-4.1%

$4,654+8.3%

$6,343-20.6%

Admin fee / account holder

$67,216

$7,975+742.8%

$6,755+895.0%

$12,316+445.7%

LOVELACE PUMP COMPANY RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOVELACE PUMP COMPANY 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