Retirement plan

VALUED EMPLOYEE RETIREMENT SAVINGS PLAN

Name: LAC ACQUISITION, LLC - VALUED EMPLOYEE RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: LAC ACQUISITION, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VALUED EMPLOYEE RETIREMENT SAVINGS PLAN, LAC ACQUISITION, LLC

LAC ACQUISITION, LLCEIN 83-2007393Plan #002PY 2023

1827 E IRELAND ROAD - SOUTH BEND, IN 46614574-406-1007

Prospect flagsHigh feesLow participationLow employer contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$15.2M

+3.1% from 2022

Total participants

761

+39.4% from 2022

Average account balance

$57,012

-10.1% from 2022

Annual return

17.75%

+36.66 pp from 2022

Benchmarks

See 4,036 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,036 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$18.23M

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

422

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.

21.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.47M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$867

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

+15.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$218

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 4 by compensation

Provider	Service type	Compensation
RSM US LLP3 years Service code 10 · EIN 42-0714325	Accounting	$49,350
CREATIVE PLANNING LLC1 year Filed as: CREATIVE PLANNING, LLC Service code 27 · EIN 43-1270780	Advisory (Plan)	$44,480
JOHN HANCOCK LIFE INSURANCE COMPANY4 years Filed as: JOHN HANCOCK RETIREMENT PLAN SRVCS Service code 15 · EIN 01-0233346	Recordkeeping	$26,850
FIRST ALLIED ADVISORY SERVICES, INC4 years Filed as: FIRST ALLIED ADVISORY SVCS Service code 26 · EIN 20-4187012	Advisory (Participants)	$15,021

Plan features & details

Pension benefit codes2E2F2G2J2K3H2T3D

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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$134K

$192 / participant

Contract admin$134K100.0%

% of EOY assets

0.882%

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: RSM US LLP
Auditor EIN: 420714325
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$57,012

$47,180+20.8%

$149,723-61.9%

$74,473-23.4%

Participation rate

29.3%

63.4%-34.1pp

78.8%-49.5pp

70.7%-41.4pp

Annual return

17.75%

22.75%-5.0pp

134.50%-116.7pp

34.36%-16.6pp

Employer contribution / active EE

$1,907-99.6%

$4,821-99.8%

$2,638-99.7%

Participant deferral / active EE

$1,064

$2,730-61.0%

$5,682-81.3%

$4,530-76.5%

Admin fee / account holder

$503

$343+46.6%

$13,215-96.2%

$347+44.9%

Provider

Service type

Compensation

RSM US LLP3 years

Service code 10 · EIN 42-0714325

Accounting

$49,350

CREATIVE PLANNING LLC1 year

Filed as: CREATIVE PLANNING, LLC

Service code 27 · EIN 43-1270780

Advisory (Plan)

$44,480

JOHN HANCOCK LIFE INSURANCE COMPANY4 years

Filed as: JOHN HANCOCK RETIREMENT PLAN SRVCS

Service code 15 · EIN 01-0233346

Recordkeeping

$26,850

FIRST ALLIED ADVISORY SERVICES, INC4 years

Filed as: FIRST ALLIED ADVISORY SVCS

Service code 26 · EIN 20-4187012

Advisory (Participants)

$15,021

VALUED EMPLOYEE RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VALUED EMPLOYEE RETIREMENT SAVINGS 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