Retirement plan

LABCON, NORTH AMERICA 401(K) PLAN

Name: LABCON, NORTH AMERICA - LABCON, NORTH AMERICA 401(K) PLAN (2023) Form 5500
Creator: LABCON, NORTH AMERICA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LABCON, NORTH AMERICA 401(K) PLAN, LABCON, NORTH AMERICA

LABCON, NORTH AMERICAEIN 94-1458073Plan #001PY 2023

3700 LAKEVILLE HIGHWAY, #200 - PETALUMA, CA 94954707-766-2100

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$21.7M

+16.4% from 2022

Total participants

247

-27.1% from 2022

Average account balance

$98,636

+27.0% from 2022

Annual return

15.86%

+31.83 pp from 2022

Benchmarks

See 1,941 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,941 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$23.62M

Not enough data

1 years with asset history on file

Average account balance

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

$115K

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.

205

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.

82.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$902K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+14.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$321

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
FINDEC BENEFIT SERVICES, INC.2 years Service code 13 · EIN 85-3986400	Contract Administrator	$38,856
ASCENSUS LLC9+ years Filed as: PORTICO WEALTH ADVISORS Service code 27 · EIN 27-1799818	Advisory (Plan)	$33,739
CHARLES SCHWAB & CO., INC.4 years Service code 33 · EIN 94-1737782	Direct payment from the plan; Shareho...	$0
CHARLES SCHWAB & CO., INC.4 years Filed as: CHARLES SCHWAB TRUST BANK Service code 19 · EIN 82-3967259	Securities Custodian	$0

Plan features & details

Pension benefit codes2F2G2J2K2R3D

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.
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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$79K

$496 / participant

Investment mgmt$38K47.9%
Contract admin$39K49.3%
Other / not subdivided$2K2.8%

% of EOY assets

0.363%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PISENTI & BRINKER LLC
Auditor EIN: 941585562
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$98,636

$71,526+37.9%

$98,450+0.2%

$71,495+38.0%

Participation rate

83.0%

72.7%+10.3pp

75.2%+7.9pp

67.9%+15.1pp

Annual return

15.86%

32.42%-16.6pp

21.16%-5.3pp

28.85%-13.0pp

Employer contribution / active EE

$1,676

$2,400-30.1%

$3,049-45.0%

$2,589-35.3%

Participant deferral / active EE

$4,851

$4,110+18.0%

$4,739+2.4%

$4,291+13.1%

Admin fee / account holder

$358

$1,675-78.6%

$8,961-96.0%

$1,588-77.4%

Provider

Service type

Compensation

FINDEC BENEFIT SERVICES, INC.2 years

Service code 13 · EIN 85-3986400

Contract Administrator

$38,856

ASCENSUS LLC9+ years

Filed as: PORTICO WEALTH ADVISORS

Service code 27 · EIN 27-1799818

Advisory (Plan)

$33,739

CHARLES SCHWAB & CO., INC.4 years

Service code 33 · EIN 94-1737782

Direct payment from the plan; Shareho...

CHARLES SCHWAB & CO., INC.4 years

Filed as: CHARLES SCHWAB TRUST BANK

Service code 19 · EIN 82-3967259

Securities Custodian

LABCON, NORTH AMERICA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LABCON, NORTH AMERICA 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