Retirement plan

LAKELAND ELECTRIC, INC. EMPLOYEES PROFIT SHARING PLAN

Name: LAKELAND ELECTRIC, INC. - LAKELAND ELECTRIC, INC. EMPLOYEES PROFIT SHARING PLAN (2018) Form 5500
Creator: LAKELAND ELECTRIC, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LAKELAND ELECTRIC, INC. EMPLOYEES PROFIT SHARING PLAN, LAKELAND ELECTRIC, INC.

LAKELAND ELECTRIC, INC.EIN 62-0787560Plan #001PY 2018

1560 BROWN AVE. - COOKEVILLE, TN 38501931-526-7216lakelande.comLinkedIn51-200 employeesutilities

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$2.2M

-0.2% from 2017

Total participants

+3.2% from 2017

Average account balance

$35,534

-3.4% from 2017

Annual return

5.04%

-4.01 pp from 2017

Benchmarks

See 545 peers

Peer group

Industry22 - Utilities

Plan typeDefined contribution

Participants25-99

Cohort545 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.94M

Not enough data

1 years with asset history on file

Average account balance

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

$40K

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.

154.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$73K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+20.06%

Not enough data

1 years with return on file

Admin fee / account holder

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

$273

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

$183K

$3448 / participant

Other / not subdivided$183K100.0%

% of EOY assets

8.294%

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

$35,534

$71,480-50.3%

$90,782-60.9%

$64,173-44.6%

Participation rate

96.2%

77.6%+18.7pp

82.7%+13.6pp

69.6%+26.7pp

Annual return

5.04%

-4.25%+9.3pp

-3.42%+8.5pp

7.63%-2.6pp

Employer contribution / active EE

$731

$3,415-78.6%

$4,105-82.2%

$2,381-69.3%

Participant deferral / active EE

$527

$4,302-87.7%

$5,366-90.2%

$3,470-84.8%

Admin fee / account holder

$2,947

$6,309-53.3%

$5,908-50.1%

$4,887-39.7%

LAKELAND ELECTRIC, INC. EMPLOYEES PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LAKELAND ELECTRIC, INC. EMPLOYEES 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