Retirement plan

LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT PLAN

Name: LORD ELECTRIC COMPANY OF PR, INC - LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT PLAN (2020) Form 5500
Creator: LORD ELECTRIC COMPANY OF PR, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT PLAN, LORD ELECTRIC COMPANY OF PR, INC

LORD ELECTRIC COMPANY OF PR, INCEIN 66-0663585Plan #001PY 2020

PO BOX 363408 - SAN JUAN, PR 009363408787-758-4040

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$8.6M

+11.2% from 2019

Total participants

107

-7.0% from 2019

Average account balance

$84,809

+12.3% from 2019

Annual return

9.92%

-6.11 pp from 2019

Benchmarks

See 26,418 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort26,418 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.01M

Not enough data

1 years with asset history on file

Average account balance

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

$123K

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.

114

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.

95.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.03M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+13.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$587

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 10 of 12 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MASSACHUSETTS MUTUAL LIFE INS. CO Service code 52 · EIN 04-1590850	Indirect Investment Fees	$55,026
ORIENTAL BANK1 year Service code 50 · EIN 66-0259436	Direct Payment	$12,000
ORIENTAL PENSION CONSULTANTS1 year Filed as: ORIENTAL PENSION CONSULTANTS, INC. Service code 13	Contract Administrator	$300
AMERICAN FUNDS1 year Service code 52 · EIN 66-0793788	Indirect Investment Fees	$0
ENVESTNET RETIREMENT SOLUTIONS, LLC1 year Service code 28 · EIN 61-1732930	Investment Management	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Service code 52	Indirect Investment Fees	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT1 year Filed as: MFS INVESTMENT Service code 52	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT1 year Filed as: MFS INVESTMENT ADVISOR Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0
ORIENTAL PENSION CONSULTANTS2 years Service code 13 1900 NW CORPORATE BLVD · BOCA RATON, FL 33431	Contract Administrator	$0

Plan features & details

Pension benefit codes2E2F2G3C2T2S

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.
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.
3C
Plan not intended to be qualified
A plan not intended to be qualified under Code sections 401 403 or 408.

Opportunity flags

3 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$67K

$848 / participant

Other / not subdivided$67K100.0%

% of EOY assets

0.782%

all-in expense ratio

Categories reported

0 / 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: FPV & GALINDEZ
Auditor EIN: 660703468
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$84,809

$98,776-14.1%

$149,745-43.4%

$79,856+6.2%

Participation rate

92.4%

75.8%+16.6pp

82.5%+9.9pp

69.6%+22.8pp

Annual return

9.92%

27.38%-17.5pp

276.72%-266.8pp

31.71%-21.8pp

Employer contribution / active EE

$742

$3,217-76.9%

$4,646-84.0%

$2,471-70.0%

Participant deferral / active EE

$3,152

$5,681-44.5%

$6,843-53.9%

$3,741-15.7%

Admin fee / account holder

$664

$6,053-89.0%

$9,312-92.9%

$5,306-87.5%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MASSACHUSETTS MUTUAL LIFE INS. CO

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$55,026

ORIENTAL BANK1 year

Service code 50 · EIN 66-0259436

Direct Payment

$12,000

ORIENTAL PENSION CONSULTANTS1 year

Filed as: ORIENTAL PENSION CONSULTANTS, INC.

Service code 13

Contract Administrator

$300

AMERICAN FUNDS1 year

Service code 52 · EIN 66-0793788

Indirect Investment Fees

ENVESTNET RETIREMENT SOLUTIONS, LLC1 year

Service code 28 · EIN 61-1732930

Investment Management

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Service code 52

Indirect Investment Fees

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 52

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT1 year

Filed as: MFS INVESTMENT

Service code 52

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT1 year

Filed as: MFS INVESTMENT ADVISOR

Service code 52 · EIN 04-3158862

Indirect Investment Fees

ORIENTAL PENSION CONSULTANTS2 years

Service code 13

1900 NW CORPORATE BLVD · BOCA RATON, FL 33431

Contract Administrator

LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT 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