Plan Snapshot
- Plan Sponsor: Lbm Industries
- Sponsor EIN: 561145775
- Sponsor Address: 17692 ROSMAN HWY, SAPPHIRE, NC, 28774
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 132
- Total Assets: $354,173
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 132 | $354,173 | $885,670 | $409,746 |
| 2023 | 121 | $64,520 | $639,735 | $341,666 |
| 2022 | 112 | $236,185 | $493,321 | $306,942 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| MEDCOST LLC | Other Service Provider | $68,717 | — | $68,717 |
| IMA FINANCIAL GROUP (ECM SOLUTIONS) | Investment Advisor | $34,386 | — | $34,386 |
| E. K. MCCONKEY & CO., INC. | Investment Advisor | $23,445 | — | $23,445 |
| THE BENECON GROUP, LLC | Investment Advisor | $23,445 | — | $23,445 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $149,993
- Estimated Expense Ratio: 42.350% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $405,770 | $46,890 | $103,067 | — | — |
| 2023 | $563,625 | — | — | — | — |
| 2022 | $1,116,806 | — | — | — | — |