Retirement plan

SMITTY'S SUPPLY, INC. 401(K) PLAN

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

SMITTYS SUPPLY, INC.EIN 72-1000182Plan #001PY 2024

63399 HIGHWAY 51 NORTH - ROSELAND, LA 70456985-748-9687

Prospect flagsLow returnsHigh feesLow participationFailed to transmit contributions

Top hat statement on fileNQDC

Filed February 27, 2015 (most recent of 2 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

63415 Highway 51 North

Roseland State: LA Zip Code: 70456

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Plans declared (2)

Smitty's Supply, Inc. Phantom Stock Plan3 emp
Smitty's Supply, Inc. Stock Appreciation Rights Plan3 emp

Total covered: 6 employees

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Total assets (EOY)

$14.4M

+12.2% from 2023

Total participants

441

+2.8% from 2023

Average account balance

$50,614

+13.4% from 2023

Annual return

11.13%

-4.50 pp from 2023

Benchmarks

See 1,164 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort1,164 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$14.37M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

284

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.

56.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.69M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$410

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS8 years Filed as: TRANSAMERICA RETIREMENT SOLUTIONS, Service code 15 · EIN 13-3689044	Recordkeeping	$85,853
MASSACHUSETTS MUTUAL LIFE INS. CO.8 years Filed as: MML INVESTORS SERVICES LLC Service code 22	Insurance Broker	$45,198
THE HASLAUER GROUP, INC.8 years Service code 15 · EIN 72-1487108	Recordkeeping	$22,750
LEAFHOUSE FINANCIAL ADVISORS, LLC7 years Filed as: LEAFHOUSE FINANCIAL ADVISORS Service code 27 · EIN 26-4311657	Advisory (Plan)	$7,906
MASSACHUSETTS MUTUAL LIFE INS. CO.6 years Filed as: MML INVESTORS SERVICES, LLC Service code 22 · EIN 04-3109325	Insurance Broker	$0

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H2T2X

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$117K

$325 / participant

Contract admin$117K100.0%

% of EOY assets

0.811%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: WEGMANN DAZET & COMPANY
Auditor EIN: 720870824
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$50,614

$92,055-45.0%

$106,213-52.3%

$77,643-34.8%

Participation rate

56.3%

81.0%-24.8pp

75.3%-19.0pp

70.6%-14.3pp

Annual return

11.13%

17.91%-6.8pp

116.14%-105.0pp

31.24%-20.1pp

Employer contribution / active EE

$1,775

$3,367-47.3%

$3,171-44.0%

$2,726-34.9%

Participant deferral / active EE

$2,940

$5,386-45.4%

$5,016-41.4%

$4,647-36.7%

Admin fee / account holder

$410

$219+87.3%

$11,033-96.3%

$430-4.7%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS8 years

Filed as: TRANSAMERICA RETIREMENT SOLUTIONS,

Service code 15 · EIN 13-3689044

Recordkeeping

$85,853

MASSACHUSETTS MUTUAL LIFE INS. CO.8 years

Filed as: MML INVESTORS SERVICES LLC

Service code 22

Insurance Broker

$45,198

THE HASLAUER GROUP, INC.8 years

Service code 15 · EIN 72-1487108

Recordkeeping

$22,750

LEAFHOUSE FINANCIAL ADVISORS, LLC7 years

Filed as: LEAFHOUSE FINANCIAL ADVISORS

Service code 27 · EIN 26-4311657

Advisory (Plan)

$7,906

MASSACHUSETTS MUTUAL LIFE INS. CO.6 years

Filed as: MML INVESTORS SERVICES, LLC

Service code 22 · EIN 04-3109325

Insurance Broker

SMITTY'S SUPPLY, INC. 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (2)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SMITTY'S SUPPLY, INC. 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (2)

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