Retirement plan

VT LEEBOY 401(K) RETIREMENT SAVINGS PLAN

Name: VT LEEBOY, INC. - VT LEEBOY 401(K) RETIREMENT SAVINGS PLAN (2017) Form 5500
Creator: VT LEEBOY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VT LEEBOY 401(K) RETIREMENT SAVINGS PLAN, VT LEEBOY, INC.

VT LEEBOY, INC.EIN 56-1217123Plan #001PY 2017

500 LINCOLN COUNTY PARKWAY EXT. - LINCOLNTON, NC 28092704-966-3300

Prospect flagsLow returnsHigh feesRecently reached 100 employeesCorrective distributions

How to read this page

Total assets (EOY)

$15.3M

+11.6% from 2016

Total participants

286

0.0% from 2016

Average account balance

$53,419

No prior year

Annual return

12.44%

+7.29 pp from 2016

Benchmarks

See 4,147 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,147 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$26.81M

Not enough data

1 years with asset history on file

Average account balance

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

$52K

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.

519

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.

94.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.98M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+9.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$260

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
MERCER1 year Filed as: MERCER INVESTMENT MANAGEMENT Service code 15 · EIN 30-0282430	Recordkeeping	$56,952
TRANSAMERICA RETIREMENT SOLUTIONS1 year Service code 12 · EIN 13-3689044	Shareholder servicing fees; Distribut...	$32,320

Plan features & details

Pension benefit codes2E2J2F2G2K3D2S2T3H

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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$89K

$370 / participant

Investment mgmt$57K63.8%
Other / not subdivided$32K36.2%

% of EOY assets

0.584%

all-in expense ratio

Categories reported

1 / 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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,419

$64,909-17.7%

$82,313-35.1%

$62,293-14.2%

Participation rate

100.0%

74.9%+25.1pp

76.9%+23.1pp

69.5%+30.5pp

Annual return

12.44%

21.18%-8.7pp

25.88%-13.4pp

28.90%-16.5pp

Employer contribution / active EE

$2,289

$1,676+36.6%

$2,428-5.7%

$2,042+12.1%

Participant deferral / active EE

$3,626

$3,103+16.9%

$3,706-2.2%

$3,169+14.4%

Admin fee / account holder

$312

$440-29.0%

$5,608-94.4%

$479-34.9%

Provider

Service type

Compensation

MERCER1 year

Filed as: MERCER INVESTMENT MANAGEMENT

Service code 15 · EIN 30-0282430

Recordkeeping

$56,952

TRANSAMERICA RETIREMENT SOLUTIONS1 year

Service code 12 · EIN 13-3689044

Shareholder servicing fees; Distribut...

$32,320

VT LEEBOY 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VT LEEBOY 401(K) 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