Retirement plan

LOWER FOODS 401(K) PLAN

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

LOWER FOODS, INC.EIN 87-0467234Plan #001PY 2024

700 HIGHWAY 91 - RICHMOND, UT 843331209435-752-7353lowerfoodsoutlet.comLinkedIn11-50 employeesfood & beverages

Prospect flagsHigh feesLow participationLow participant contributionLow fidelity bond

How to read this page

Total assets (EOY)

$3.4M

+47.1% from 2023

Total participants

309

+35.5% from 2023

Average account balance

$35,471

+30.4% from 2023

Annual return

27.49%

+6.21 pp from 2023

Benchmarks

See 744 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort744 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.44M

Not enough data

1 years with asset history on file

Average account balance

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

$35K

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.

32.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$653K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+27.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2015

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 codes2E2F2G2J2T3D3H

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant 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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$195K

$662 / participant

Other / not subdivided$195K100.0%

% of EOY assets

5.680%

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

$35,471

$66,459-46.6%

$81,353-56.4%

$77,736-54.4%

Participation rate

28.1%

68.7%-40.6pp

69.5%-41.4pp

70.6%-42.4pp

Annual return

27.49%

15.95%+11.5pp

24.82%+2.7pp

31.26%-3.8pp

Employer contribution / active EE

$762

$2,156-64.7%

$2,464-69.1%

$2,728-72.1%

Participant deferral / active EE

$1,452

$3,674-60.5%

$3,885-62.6%

$4,651-68.8%

Admin fee / account holder

$2,015

$585+244.4%

$5,766-65.1%

$433+365.0%

LOWER FOODS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOWER FOODS 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