Retirement plan

LAWRENCE, HITT & PUGH, LLP PROFIT SHARING PLAN

Name: LAWRENCE, HITT & PUGH, LLP - LAWRENCE, HITT & PUGH, LLP PROFIT SHARING PLAN (2023) Form 5500
Creator: LAWRENCE, HITT & PUGH, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LAWRENCE, HITT & PUGH, LLP PROFIT SHARING PLAN, LAWRENCE, HITT & PUGH, LLP

LAWRENCE, HITT & PUGH, LLPEIN 63-1179823Plan #001PY 2023

513 ENERGY CENTER BLVD, SUITE 1001 - NORTHPORT, AL 35473205-752-3700

Prospect flagsLow participant contributionLow fidelity bond

How to read this page

Total assets (EOY)

$1.1M

+27.3% from 2022

Total participants

0.0% from 2022

Average account balance

$135,239

+27.3% from 2022

Annual return

21.43%

+42.98 pp from 2022

Benchmarks

See 139,849 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,849 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.07M

Not enough data

1 years with asset history on file

Average account balance

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

$134K

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$39K

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

+8.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$386

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 codes2E2F2G2J2T3B3D

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

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

$135,239

$148,582-9.0%

$135,942-0.5%

$139,456-3.0%

Participation rate

100.0%

83.9%+16.1pp

81.9%+18.1pp

80.3%+19.7pp

Annual return

21.43%

79.26%-57.8pp

68.28%-46.8pp

373.45%-352.0pp

Employer contribution / active EE

$12,500

$5,245+138.3%

$4,858+157.3%

$4,753+163.0%

Participant deferral / active EE

$8,101-100.0%

$7,759-100.0%

$6,711-100.0%

Admin fee / account holder

$12,402-100.0%

$10,764-100.0%

$11,407-100.0%

LAWRENCE, HITT & PUGH, LLP PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

LAWRENCE, HITT & PUGH, LLP PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion