Retirement plan

LIPSITZ INDUSTRIES EMPLOYEES PROFIT SHARING PLAN AND TRUST

Name: M. LIPSITZ & CO. LTD. - LIPSITZ INDUSTRIES EMPLOYEES PROFIT SHARING PLAN AND TRUST (2022) Form 5500
Creator: M. LIPSITZ & CO. LTD.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LIPSITZ INDUSTRIES EMPLOYEES PROFIT SHARING PLAN AND TRUST, M. LIPSITZ & CO. LTD.

M. LIPSITZ & CO. LTD.EIN 74-1474940Plan #001PY 2022

100 ELM STREET - WACO, TX 76704254-756-6661

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$16.9M

-14.4% from 2021

Total participants

264

+0.8% from 2021

Average account balance

$70,728

-13.7% from 2021

Annual return

-14.15%

-22.58 pp from 2021

Benchmarks

See 2,289 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,289 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.54M

Not enough data

1 years with asset history on file

Average account balance

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

$78K

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.

249

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.

91.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$977K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+9.57%

Not enough data

1 years with return on file

Admin fee / account holder

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

$52

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 3 by compensation

Provider	Service type	Compensation
PENSIONMARK FINANCIAL GROUP LLC2 years Service code 27 24 E COTA ST · SANTA BARBARA, CA 93101	Advisory (Plan)	$5,172
WITHUMSMITH+BROWN, PC2 years Filed as: PATITILLO BROWN & HILL LLP Service code 10 401 W HWY 6 · WACO, TX 767020725	Accounting	$500
JPMORGAN INVEST HOLDINGS LLC3 years Service code 64 · EIN 13-2624428	Recordkeeping Fees	$18

Plan features & details

Pension benefit codes2E2F2G2J2T3B3D3H

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.
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

1 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$6K

$25 / participant

Contract admin$6K100.0%

% of EOY assets

0.034%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PATTILLO, BROWN & HILL, L.L.P
Auditor EIN: 741130599
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$70,728

$86,692-18.4%

$119,634-40.9%

$66,949+5.6%

Participation rate

89.1%

75.6%+13.5pp

79.3%+9.8pp

69.8%+19.3pp

Annual return

-14.15%

-8.00%-6.2pp

-14.98%+0.8pp

1.57%-15.7pp

Employer contribution / active EE

$3,484

$2,536+37.4%

$4,232-17.7%

$2,545+36.9%

Participant deferral / active EE

$1,866

$4,360-57.2%

$5,601-66.7%

$4,239-56.0%

Admin fee / account holder

$24

$755-96.8%

$10,329-99.8%

$594-96.0%

Provider

Service type

Compensation

PENSIONMARK FINANCIAL GROUP LLC2 years

Service code 27

24 E COTA ST · SANTA BARBARA, CA 93101

Advisory (Plan)

$5,172

WITHUMSMITH+BROWN, PC2 years

Filed as: PATITILLO BROWN & HILL LLP

Service code 10

401 W HWY 6 · WACO, TX 767020725

Accounting

$500

JPMORGAN INVEST HOLDINGS LLC3 years

Service code 64 · EIN 13-2624428

Recordkeeping Fees

$18

LIPSITZ INDUSTRIES EMPLOYEES PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LIPSITZ INDUSTRIES EMPLOYEES PROFIT SHARING PLAN AND TRUST

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