Retirement plan

LAWRENCE TRACTOR COMPANY, INC. 401(K) PROFIT SHARING PLAN

Name: LAWRENCE TRACTOR COMPANY, INC. - LAWRENCE TRACTOR COMPANY, INC. 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: LAWRENCE TRACTOR COMPANY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LAWRENCE TRACTOR COMPANY, INC. 401(K) PROFIT SHARING PLAN, LAWRENCE TRACTOR COMPANY, INC.

LAWRENCE TRACTOR COMPANY, INC.EIN 94-1713405Plan #001PY 2020

2530 E. MAIN STREET - VISALIA, CA 93292559-734-7406lawrencetractor.comLinkedIn1-10 employeesmachinery

Prospect flagsLow returnsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$15.9M

+6.8% from 2019

Total participants

137

+14.2% from 2019

Average account balance

$120,325

-4.5% from 2019

Annual return

4.04%

+1.69 pp from 2019

Benchmarks

See 2,198 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,198 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.78M

Not enough data

1 years with asset history on file

Average account balance

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

$139K

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.

128

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.

92.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.46M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+9.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$241

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
M GREEN & COMPANY LLP1 year Filed as: M GREEN AND COMPANY LLP Service code 10 · EIN 94-1683129	Accounting	$40,000
TRANSAMERICA RETIREMENT SOLUTIONS3 years Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781	Recordkeeping	$9,175

Plan features & details

Pension benefit codes2E2F2H2J2K3D2T

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

4 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$51K

$439 / participant

Investment mgmt$1K2.6%
Other / not subdivided$49K97.4%

% of EOY assets

0.318%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: M. GREEN AND COMPANY LLP
Auditor EIN: 941683129
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$120,325

$54,573+120.5%

$90,965+32.3%

$73,493+63.7%

Participation rate

95.7%

61.2%+34.5pp

69.0%+26.6pp

70.7%+25.0pp

Annual return

4.04%

16.69%-12.6pp

134.57%-130.5pp

28.51%-24.5pp

Employer contribution / active EE

$5,164

$991+420.9%

$2,122+143.4%

$2,270+127.5%

Participant deferral / active EE

$2,791

$2,517+10.9%

$3,373-17.3%

$3,740-25.4%

Admin fee / account holder

$383

$521-26.6%

$5,960-93.6%

$513-25.4%

Provider

Service type

Compensation

M GREEN & COMPANY LLP1 year

Filed as: M GREEN AND COMPANY LLP

Service code 10 · EIN 94-1683129

Accounting

$40,000

TRANSAMERICA RETIREMENT SOLUTIONS3 years

Filed as: TRANSAMERICA LIFE INSURANCE COMPANY

Service code 15 · EIN 39-0989781

Recordkeeping

$9,175

LAWRENCE TRACTOR COMPANY, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LAWRENCE TRACTOR COMPANY, INC. 401(K) PROFIT SHARING 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