Retirement plan

LM MANUFACTURING RETIREMENT SAVINGS PLAN

Name: LM MANUFACTURING, LLC - LM MANUFACTURING RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: LM MANUFACTURING, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LM MANUFACTURING RETIREMENT SAVINGS PLAN, LM MANUFACTURING, LLC

LM MANUFACTURING, LLCEIN 85-3290233Plan #001PY 2024

6401 WEST FORT STREET - DETROIT, MI 48209947-223-6311lm-mfg.comLinkedIn201-500 employeesconsumer goods

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$3.1M

+209.1% from 2023

Total participants

779

-9.1% from 2023

Average account balance

$4,525

+286.1% from 2023

Annual return

38.70%

-2153.45 pp from 2023

Benchmarks

See 1,403 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,403 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.10M

Not enough data

1 years with asset history on file

Average account balance

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

$5K

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.

686

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.

83.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.17M

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

+38.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$124

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
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$46,282
NBT BANCORP NA1 year Filed as: NBT BANK, N.A. Service code 13 · EIN 15-0395735	Contract Administrator	$38,459
SIGMA FINANCIAL CORPORATION1 year Service code 49 · EIN 38-2472555	Other Services	$8,278

Plan features & details

Pension benefit codes2E2F2J2K2R2S2T3D

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).
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$85K

$154 / participant

Contract admin$85K100.0%

% of EOY assets

2.730%

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: UHY LLP
Auditor EIN: 200694403
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$4,525

$89,465-94.9%

$165,100-97.3%

$77,762-94.2%

Participation rate

83.2%

78.6%+4.5pp

70.6%+12.6pp

Annual return

38.70%

28.86%+9.8pp

70.21%-31.5pp

31.27%+7.4pp

Employer contribution / active EE

$1,701

$2,565-33.7%

$4,348-60.9%

$2,728-37.6%

Participant deferral / active EE

$2,222

$4,904-54.7%

$6,035-63.2%

$4,651-52.2%

Admin fee / account holder

$124

$340-63.6%

$12,696-99.0%

$433-71.5%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$46,282

NBT BANCORP NA1 year

Filed as: NBT BANK, N.A.

Service code 13 · EIN 15-0395735

Contract Administrator

$38,459

SIGMA FINANCIAL CORPORATION1 year

Service code 49 · EIN 38-2472555

Other Services

$8,278

LM MANUFACTURING RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LM MANUFACTURING 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