Retirement plan

CANNON LOAD BANKS, INC. PROFIT SHARING PLAN

Name: CANNON LOAD BANKS, INC. - CANNON LOAD BANKS, INC. PROFIT SHARING PLAN (2024) Form 5500
Creator: CANNON LOAD BANKS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CANNON LOAD BANKS, INC. PROFIT SHARING PLAN, CANNON LOAD BANKS, INC.

CANNON LOAD BANKS, INC.EIN 58-1750212Plan #001PY 2024

85 NORTH INDUSTRIAL - PALMETTO, GA 30268770-463-0504cannonloadbanks.comLinkedIn1-10 employeesaviation & aerospace

Prospect flagsHigh feesLow fidelity bondWind-down / frozen

How to read this page

Total assets (EOY)

$2.7M

+12.2% from 2023

Total participants

0.0% from 2023

Average account balance

$169,228

+12.2% from 2023

Annual return

14.26%

+7.90 pp from 2023

Benchmarks

See 22,981 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,981 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.71M

Not enough data

1 years with asset history on file

Average account balance

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

$169K

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.

94.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+14.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3438

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 codes2E3D2G2J2F2T

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

3 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).
InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II

Admin total

$55K

$3235 / participant

Other / not subdivided$55K100.0%

% of EOY assets

2.031%

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

$169,228

$117,846+43.6%

$102,434+65.2%

$145,884+16.0%

Participation rate

94.1%

78.6%+15.5pp

76.5%+17.6pp

80.3%+13.8pp

Annual return

14.26%

31.90%-17.6pp

29.46%-15.2pp

551.85%-537.6pp

Employer contribution / active EE

$3,615-100.0%

$3,023-100.0%

$4,662-100.0%

Participant deferral / active EE

$5,733-100.0%

$5,055-100.0%

$6,690-100.0%

Admin fee / account holder

$3,438

$13,356-74.3%

$9,462-63.7%

$13,392-74.3%

CANNON LOAD BANKS, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CANNON LOAD BANKS, INC. 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