Retirement plan

PROFIT SHARING PLAN OF KENNETH G. LILLY FASTENERS, LLC

Name: KENNETH G. LILLY FASTENERS, LLC - PROFIT SHARING PLAN OF KENNETH G. LILLY FASTENERS, LLC (2023) Form 5500
Creator: KENNETH G. LILLY FASTENERS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROFIT SHARING PLAN OF KENNETH G. LILLY FASTENERS, LLC, KENNETH G. LILLY FASTENERS, LLC

KENNETH G. LILLY FASTENERS, LLCEIN 87-2529403Plan #001PY 2023

855 DAWSON DRIVE - NEWARK, DE 19713302-366-7640

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.2M

+12.6% from 2022

Total participants

+28.6% from 2022

Average account balance

$122,561

-9.1% from 2022

Annual return

16.60%

+33.77 pp from 2022

Benchmarks

See 23,814 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,814 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.87M

Not enough data

1 years with asset history on file

Average account balance

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

$137K

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.

110.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$152K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+10.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$38714

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 codes2E2F2G2J3B3D3F

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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

2 tripped

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

$273K

$17070 / participant

Other / not subdivided$273K100.0%

% of EOY assets

8.571%

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

$122,561

$154,193-20.5%

$130,045-5.8%

$139,466-12.1%

Participation rate

93.8%

82.0%+11.8pp

78.5%+15.2pp

80.3%+13.4pp

Annual return

16.60%

32.51%-15.9pp

-137.30%+153.9pp

373.66%-357.1pp

Employer contribution / active EE

$3,053

$5,292-42.3%

$4,321-29.4%

$4,754-35.8%

Participant deferral / active EE

$6,084

$6,709-9.3%

$5,820+4.5%

$6,712-9.3%

Admin fee / account holder

$10,505

$13,989-24.9%

$10,600-0.9%

$11,409-7.9%

PROFIT SHARING PLAN OF KENNETH G. LILLY FASTENERS, LLC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROFIT SHARING PLAN OF KENNETH G. LILLY FASTENERS, LLC

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