Retirement plan

L&M COMPANIES, INC. 401(K) AND PROFIT SHARING PLAN

Name: L&M COMPANIES, INC. - L&M COMPANIES, INC. 401(K) AND PROFIT SHARING PLAN (2018) Form 5500
Creator: L&M COMPANIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, L&M COMPANIES, INC. 401(K) AND PROFIT SHARING PLAN, L&M COMPANIES, INC.

L&M COMPANIES, INC.EIN 56-0811549Plan #001PY 2018

2925 HUNTLEIGH DR., SUITE 204 - RALEIGH, NC 27604919-981-8000lmcompanies.comLinkedIn51-200 employeesfood production

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$19.5M

-5.1% from 2017

Total participants

169

+4.3% from 2017

Average account balance

$115,153

-9.6% from 2017

Annual return

-5.19%

-22.72 pp from 2017

Benchmarks

See 9,277 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,277 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$50.33M

Not enough data

1 years with asset history on file

Average account balance

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

$253K

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.

199

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.

63.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.19M

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

+11.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$442

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 2 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.4+ years Service code 15 · EIN 94-1347393	Recordkeeping	$36,256
INVESTMENT RESEARCH & ADVISORY GROU3 years Service code 17 · EIN 58-1989031	Pension Consulting	$16,457

Plan features & details

Pension benefit codes2E2F2H2J2R2S2T3D3H

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

2 tripped

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).

Expense breakdown

Schedule H Part II

Admin total

$53K

$643 / participant

Other / not subdivided$53K100.0%

% of EOY assets

0.271%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CHERRY BEKAERT LLP
Auditor EIN: 560574444
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$115,153

$72,404+59.0%

$110,243+4.5%

$64,173+79.4%

Participation rate

100.0%

73.3%+26.7pp

79.8%+20.2pp

69.6%+30.4pp

Annual return

-5.19%

-6.29%+1.1pp

314.76%-320.0pp

7.63%-12.8pp

Employer contribution / active EE

$4,434

$2,282+94.3%

$3,827+15.9%

$2,381+86.2%

Participant deferral / active EE

$7,096

$3,469+104.6%

$4,672+51.9%

$3,470+104.5%

Admin fee / account holder

$312

$5,664-94.5%

$8,548-96.4%

$4,887-93.6%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.4+ years

Service code 15 · EIN 94-1347393

Recordkeeping

$36,256

INVESTMENT RESEARCH & ADVISORY GROU3 years

Service code 17 · EIN 58-1989031

Pension Consulting

$16,457

L&M COMPANIES, INC. 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

L&M COMPANIES, INC. 401(K) AND PROFIT SHARING 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