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 (2021) 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 2021

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

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$10.6M

+23.2% from 2020

Total participants

112

+4.7% from 2020

Average account balance

$99,561

+17.4% from 2020

Annual return

12.05%

+2.13 pp from 2020

Benchmarks

See 27,004 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort27,004 peers

Snapshot2021

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 16 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.3 years Filed as: MASSACHUSETTS MUTUAL LIFE INS. CO Service code 52 · EIN 04-1590850	Indirect Investment Fees	$67,919
ORIENTAL BANK2 years Service code 50 · EIN 66-0259436	Direct Payment	$22,425
EDUARDO MELENDEZ1 year Filed as: EDUARDO RODRIGUEZ TORRES Service code 27 273 PONCE DE LEON AVE · HATO REY, PR 00917	Advisory (Plan)	$7,587
ORIENTAL PENSION CONSULTANTS2 years Filed as: ORIENTAL PENSION CONSULTANTS, INC. Service code 13	Contract Administrator	$210
AMERICAN FUNDS2 years Service code 52 · EIN 66-0793788	Indirect Investment Fees	$0
DODGE & COX1 year Service code 52 · EIN 94-6067274	Indirect Investment Fees	$0
ENVESTNET RETIREMENT SOLUTIONS, LLC1 year Filed as: ENVESTNET RETIREMENT SOLUTIONS LLC Service code 28 · EIN 61-1732930	Investment Management	$0
ENVESTNET RETIREMENT SOLUTIONS, LLC2 years Service code 28	Investment Management	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Service code 52	Indirect Investment Fees	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52	Indirect Investment Fees	$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

2 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.

Expense breakdown

Schedule H Part II

Admin total

$98K

$1240 / participant

Investment mgmt$30K30.6%
Contract admin$68K69.4%

% of EOY assets

0.928%

all-in expense ratio

Categories reported

2 / 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

$99,561

$105,200-5.4%

$159,474-37.6%

$85,847+16.0%

Participation rate

92.4%

75.8%+16.6pp

82.8%+9.6pp

69.3%+23.1pp

Annual return

12.05%

45.08%-33.0pp

263.68%-251.6pp

318.61%-306.6pp

Employer contribution / active EE

$10,320

$3,319+211.0%

$4,831+113.6%

$2,565+302.3%

Participant deferral / active EE

$3,832

$5,946-35.5%

$7,353-47.9%

$3,952-3.0%

Admin fee / account holder

$924

$6,934-86.7%

$10,802-91.4%

$6,261-85.2%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.3 years

Filed as: MASSACHUSETTS MUTUAL LIFE INS. CO

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$67,919

ORIENTAL BANK2 years

Service code 50 · EIN 66-0259436

Direct Payment

$22,425

EDUARDO MELENDEZ1 year

Filed as: EDUARDO RODRIGUEZ TORRES

Service code 27

273 PONCE DE LEON AVE · HATO REY, PR 00917

Advisory (Plan)

$7,587

ORIENTAL PENSION CONSULTANTS2 years

Filed as: ORIENTAL PENSION CONSULTANTS, INC.

Service code 13

Contract Administrator

$210

AMERICAN FUNDS2 years

Service code 52 · EIN 66-0793788

Indirect Investment Fees

DODGE & COX1 year

Service code 52 · EIN 94-6067274

Indirect Investment Fees

ENVESTNET RETIREMENT SOLUTIONS, LLC1 year

Filed as: ENVESTNET RETIREMENT SOLUTIONS LLC

Service code 28 · EIN 61-1732930

Investment Management

ENVESTNET RETIREMENT SOLUTIONS, LLC2 years

Service code 28

Investment Management

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Service code 52

Indirect Investment Fees

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 52

Indirect Investment Fees

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