Retirement plan

LITER'S, INC. 401(K) PLAN

Name: LITER'S, INC. - LITER'S, INC. 401(K) PLAN (2024) Form 5500
Creator: LITER'S, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LITER'S, INC. 401(K) PLAN, LITER'S, INC.

LITER'S, INC.EIN 61-0543198Plan #001PY 2024

5918 HAUNZ LANE - LOUISVILLE, KY 40241502-241-7637

Prospect flagsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$6.4M

+13.3% from 2023

Total participants

152

+9.4% from 2023

Average account balance

$44,888

+3.7% from 2023

Annual return

14.51%

-2.82 pp from 2023

Benchmarks

See 269 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants100-249

Cohort269 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.37M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

142

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.

92.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$471K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+14.51%

Not enough data

1 years with return on file

Admin fee / account holder

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

$426

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 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY5 years Service code 13 · EIN 42-0127290	Contract Administrator	$26,145
SORTINO ADVISORY PARTNERS, LLC8 years Service code 27 · EIN 47-1880154	Advisory (Plan)	$19,997
JONES, NALE & MATTINGLY PLC10+ years Filed as: JONES, NALE & MATTINGLY Service code 10 · EIN 61-0420207	Accounting	$14,300

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T2U3D

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.

Opportunity flags

3 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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$60K

$472 / participant

Investment mgmt$20K33.1%
Contract admin$26K43.3%
Other / not subdivided$14K23.7%

% of EOY assets

0.948%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: JONES, NALE & MATTINGLY PLC
Auditor EIN: 610420207
Audit fees: $14,298
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$44,888

$79,700-43.7%

$153,643-70.8%

$74,459-39.7%

Participation rate

92.2%

69.8%+22.4pp

77.1%+15.1pp

67.2%+25.0pp

Annual return

14.51%

15.07%-0.6pp

15.71%-1.2pp

1369.70%-1355.2pp

Employer contribution / active EE

$1,448

$4,016-64.0%

$5,039-71.3%

$2,626-44.9%

Participant deferral / active EE

$2,232

$5,315-58.0%

$6,754-67.0%

$4,350-48.7%

Admin fee / account holder

$426

$1,790-76.2%

$12,739-96.7%

$1,945-78.1%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY5 years

Service code 13 · EIN 42-0127290

Contract Administrator

$26,145

SORTINO ADVISORY PARTNERS, LLC8 years

Service code 27 · EIN 47-1880154

Advisory (Plan)

$19,997

JONES, NALE & MATTINGLY PLC10+ years

Filed as: JONES, NALE & MATTINGLY

Service code 10 · EIN 61-0420207

Accounting

$14,300

LITER'S, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LITER'S, INC. 401(K) 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