Retirement plan

LIP- VENTURE 401(K) PLAN

Name: LIP, LLC - LIP- VENTURE 401(K) PLAN (2024) Form 5500
Creator: LIP, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LIP- VENTURE 401(K) PLAN, LIP, LLC

LIP, LLCEIN 83-2589843Plan #001PY 2024

P.O. BOX 640 - SACO, ME 04072207-494-1179

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$52K

+119.8% from 2023

Total participants

+20.0% from 2023

Average account balance

$10,376

+119.8% from 2023

Annual return

13.91%

-33.05 pp from 2023

Benchmarks

See 14,038 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants<25

Cohort14,038 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$52K

Not enough data

1 years with asset history on file

Average account balance

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

$10K

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.

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.

20.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$25K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+13.91%

Not enough data

1 years with return on file

Admin fee / account holder

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

$44

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2F2G2J2T3D3H

Plan features

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.
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 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.

Expense breakdown

Schedule H Part II

Admin total

$222

$9 / participant

Other / not subdivided$222100.0%

% of EOY assets

0.428%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$10,376

$76,608-86.5%

$56,077-81.5%

$145,877-92.9%

Participation rate

20.8%

63.2%-42.4pp

52.5%-31.7pp

80.3%-59.5pp

Annual return

13.91%

3009.59%-2995.7pp

1709.28%-1695.4pp

551.28%-537.4pp

Employer contribution / active EE

$1,382-100.0%

$1,040-100.0%

$4,663-100.0%

Participant deferral / active EE

$1,041

$2,624-60.3%

$1,954-46.7%

$6,691-84.4%

Admin fee / account holder

$44

$3,325-98.7%

$2,825-98.4%

$13,402-99.7%

LIP- VENTURE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LIP- VENTURE 401(K) 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