Retirement plan

LOCAL 8 SALARY SAVINGS PLAN

Name: MARTIGNETTI COMPANIES, LLC - LOCAL 8 SALARY SAVINGS PLAN (2024) Form 5500
Creator: MARTIGNETTI COMPANIES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LOCAL 8 SALARY SAVINGS PLAN, MARTIGNETTI COMPANIES, LLC

MARTIGNETTI COMPANIES, LLCEIN 46-4033150Plan #004PY 2024

500 JOHN HANCOCK ROAD - TAUNTON, MA 02780781-352-6347martignetti.comLinkedIn1001-5000 employeeswine and spirits

Other plans on this EIN

1 filing

#002Retirement-$240.5M assets

Prospect flagsHigh feesLow employer contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$33.2M

-1.6% from 2023

Total participants

198

+8.2% from 2023

Average account balance

$197,726

+2.0% from 2023

Annual return

14.60%

-3.73 pp from 2023

Benchmarks

See 2,355 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,355 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Analytics

Total assets (EOY)

Plan-year ending balance

$36.56M

Not enough data

1 years with asset history on file

Average account balance

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

$193K

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.

189

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.

95.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.66M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+14.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$346

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 4 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY2 years Filed as: MORGAN STANLEY Service code 27 · EIN 36-3145972 1585 BROADWAY · NEW YORK, NY 10036	Advisory (Plan)	$34,074
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 15 · EIN 84-0467907 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping	$27,074
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 26 · EIN 84-1532243 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Advisory (Participants)	$5,350
PRICEWATERHOUSECOOPERS LLP10+ years Service code 10 · EIN 13-4008324 4040 W BOY SCOUT BLVD · TAMPA, FL 33607	Accounting	$261

Plan features & details

Pension benefit codes2E2F2G2J2K2S3D3H2T

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

4 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$67K

$397 / participant

Recordkeeping$27K40.6%
Investment mgmt$39K59.1%
Other / not subdivided$2610.4%

% of EOY assets

0.201%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: $261
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$197,726

$88,083+124.5%

$164,813+20.0%

$74,495+165.4%

Participation rate

82.1%

73.0%+9.1pp

78.6%+3.5pp

67.2%+14.9pp

Annual return

14.60%

17.26%-2.7pp

69.93%-55.3pp

1364.94%-1350.3pp

Employer contribution / active EE

$2,593-100.0%

$4,341-100.0%

$2,623-100.0%

Participant deferral / active EE

$9,306

$4,498+106.9%

$6,031+54.3%

$4,346+114.1%

Admin fee / account holder

$397

$2,234-82.2%

$12,690-96.9%

$1,942-79.5%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY2 years

Filed as: MORGAN STANLEY

Service code 27 · EIN 36-3145972

1585 BROADWAY · NEW YORK, NY 10036

Advisory (Plan)

$34,074

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 15 · EIN 84-0467907

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping

$27,074

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 26 · EIN 84-1532243

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Advisory (Participants)

$5,350

PRICEWATERHOUSECOOPERS LLP10+ years

Service code 10 · EIN 13-4008324

4040 W BOY SCOUT BLVD · TAMPA, FL 33607

Accounting

$261

LOCAL 8 SALARY SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOCAL 8 SALARY 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