Retirement plan

LETTER SYSTEMS, INC. EMPLOYEE STOCK OWNERSHIP 401(K) PLAN

Name: LETTER SYSTEMS, INC. - LETTER SYSTEMS, INC. EMPLOYEE STOCK OWNERSHIP 401(K) PLAN (2020) Form 5500
Creator: LETTER SYSTEMS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LETTER SYSTEMS, INC. EMPLOYEE STOCK OWNERSHIP 401(K) PLAN, LETTER SYSTEMS, INC.

LETTER SYSTEMS, INC.EIN 01-0263845Plan #002PY 2020

15 DARIN DRIVE - AUGUSTA, ME 04330207-622-6241

Other plans on this EIN

1 filing

#001Retirement--

Prospect flagsLow employer contributionLow participant contributionRecently reached 100 employees

How to read this page

Total assets (EOY)

$16.9M

+14848.1% from 2019

Total participants

213

+10.4% from 2019

Average account balance

$81,209

No prior year

Annual return

14809.82%

+14809.82 pp from 2019

Benchmarks

See 1,894 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,894 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$26.91M

Not enough data

1 years with asset history on file

Average account balance

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

$167K

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.

161

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.

97.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$862K

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

+16.63%

Not enough data

1 years with return on file

Admin fee / account holder

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

$698

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 2 by compensation

Provider	Service type	Compensation
RT JONES CAPITAL EQUITIES MGMT INC1 year Filed as: JONES-HOXIE CORP DBA CROSS-INS Service code 99 PO BOX 1388 · BANGOR, ME 04402	Other Fees	$965
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GREAT-WEST LIFE & ANNUITY INS CO Service code 64 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2P2T2Q3D3H3I

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.
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.
2P
Leveraged ESOP
Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
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)).
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WIPFLI LLP
Auditor EIN: 390758449
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$81,209

$70,917+14.5%

$98,920-17.9%

$73,497+10.5%

Participation rate

96.6%

73.8%+22.8pp

76.0%+20.5pp

70.7%+25.9pp

Annual return

14809.82%

34.18%+14775.6pp

196.47%+14613.3pp

28.51%+14781.3pp

Employer contribution / active EE

$209

$2,037-89.7%

$2,689-92.2%

$2,270-90.8%

Participant deferral / active EE

$862

$3,501-75.4%

$4,245-79.7%

$3,740-76.9%

Admin fee / account holder

$535-100.0%

$6,643-100.0%

$513-100.0%

Provider

Service type

Compensation

RT JONES CAPITAL EQUITIES MGMT INC1 year

Filed as: JONES-HOXIE CORP DBA CROSS-INS

Service code 99

PO BOX 1388 · BANGOR, ME 04402

Other Fees

$965

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GREAT-WEST LIFE & ANNUITY INS CO

Service code 64

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

LETTER SYSTEMS, INC. EMPLOYEE STOCK OWNERSHIP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

LETTER SYSTEMS, INC. EMPLOYEE STOCK OWNERSHIP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion