Retirement plan

LEE IRON & METAL CO., INC. 401(K) PROFIT SHARING PLAN

Name: LEE IRON & METAL CO., INC. - LEE IRON & METAL CO., INC. 401(K) PROFIT SHARING PLAN (2021) Form 5500
Creator: LEE IRON & METAL CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LEE IRON & METAL CO., INC. 401(K) PROFIT SHARING PLAN, LEE IRON & METAL CO., INC.

LEE IRON & METAL CO., INC.EIN 56-1101679Plan #002PY 2021

2219 S. HORNER BLVD., P.O. BOX 778 - SANFORD, NC 273305861919-775-7951leeironandmetal.comLinkedIn51-200 employeesaccounting

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$1.7M

+19.8% from 2020

Total participants

-2.7% from 2020

Average account balance

$46,912

+23.1% from 2020

Annual return

11.44%

-1.85 pp from 2020

Benchmarks

See 14,567 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,567 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.80M

Not enough data

1 years with asset history on file

Average account balance

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

$47K

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.

131.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$43K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+9.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$946

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 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 participant contribution
Participant 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.)

Expense breakdown

Schedule H Part II

Admin total

$24K

$723 / participant

Other / not subdivided$24K100.0%

% of EOY assets

1.412%

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

$46,912

$86,298-45.6%

$111,308-57.9%

$85,847-45.4%

Participation rate

100.0%

73.3%+26.7pp

77.3%+22.7pp

69.3%+30.7pp

Annual return

11.44%

19.99%-8.5pp

54.67%-43.2pp

318.61%-307.2pp

Employer contribution / active EE

$3,030

$2,044+48.3%

$2,732+10.9%

$2,565+18.1%

Participant deferral / active EE

$762

$3,641-79.1%

$4,487-83.0%

$3,952-80.7%

Admin fee / account holder

$662

$8,189-91.9%

$7,965-91.7%

$6,261-89.4%

LEE IRON & METAL CO., INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LEE IRON & METAL CO., INC. 401(K) 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