Retirement plan

LIPSITZ INDUSTRIES EMPLOYEES PROFIT SHARING PLAN AND TRUST

Name: M. LIPSITZ & CO., LTD. - LIPSITZ INDUSTRIES EMPLOYEES PROFIT SHARING PLAN AND TRUST (2023) 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 2023

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

Prospect flagsLow returnsFailed to transmit contributions

How to read this page

Total assets (EOY)

$17.9M

+6.1% from 2022

Total participants

280

+6.1% from 2022

Average account balance

$73,176

+3.5% from 2022

Annual return

12.04%

+26.19 pp from 2022

Benchmarks

See 2,343 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,343 peers

Snapshot2023

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
WITHUMSMITH+BROWN, PC3 years Filed as: PATITILLO BROWN & HILL LLP Service code 10 401 W HWY 6 · WACO, TX 767020725	Accounting	$5,750
PENSIONMARK FINANCIAL GROUP LLC3 years Service code 27 24 E COTA ST · SANTA BARBARA, CA 93101	Advisory (Plan)	$4,798
JPMORGAN INVEST HOLDINGS LLC4 years Service code 64 · EIN 13-2624428	Recordkeeping Fees	$400

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

2 tripped

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

$11K

$45 / participant

Recordkeeping$4003.7%
Investment mgmt$5K43.8%
Other / not subdivided$6K52.5%

% of EOY assets

0.061%

all-in expense ratio

Categories reported

2 / 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: $5,750
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$73,176

$83,090-11.9%

$130,062-43.7%

$71,529+2.3%

Participation rate

85.5%

74.1%+11.4pp

78.5%+7.0pp

67.9%+17.6pp

Annual return

12.04%

20.61%-8.6pp

-137.37%+149.4pp

28.97%-16.9pp

Employer contribution / active EE

$1,758

$2,624-33.0%

$4,322-59.3%

$2,590-32.1%

Participant deferral / active EE

$2,904

$4,436-34.5%

$5,821-50.1%

$4,291-32.3%

Admin fee / account holder

$45

$1,727-97.4%

$10,601-99.6%

$1,588-97.2%

Provider

Service type

Compensation

WITHUMSMITH+BROWN, PC3 years

Filed as: PATITILLO BROWN & HILL LLP

Service code 10

401 W HWY 6 · WACO, TX 767020725

Accounting

$5,750

PENSIONMARK FINANCIAL GROUP LLC3 years

Service code 27

24 E COTA ST · SANTA BARBARA, CA 93101

Advisory (Plan)

$4,798

JPMORGAN INVEST HOLDINGS LLC4 years

Service code 64 · EIN 13-2624428

Recordkeeping Fees

$400

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