Retirement plan

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

Name: LETTER SYSTEMS, INC. - LETTER SYSTEMS, INC. EMPLOYEE STOCK OWNERSHIP 401(K) PLAN (2024) 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 2024

15 DARIN DRIVE - AUGUSTA, ME 04330207-248-4591

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$26.9M

+6.6% from 2023

Total participants

164

-16.8% from 2023

Average account balance

$167,126

+30.4% from 2023

Annual return

16.63%

-15.49 pp from 2023

Benchmarks

See 1,855 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,855 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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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

See the 6-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
WIPFLI LLP4 years Service code 10 11 SCOTT STREET, SUITE 400 · WAUSAU, WI 54403	Accounting	$43,400
MERRILL LYNCH PIERCE FENNER & SMITH4 years Service code 27 1400 AMERICAN BLVD, BLDG #4 · PENNINGTON, NJ 08534	Advisory (Plan)	$38,445
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE CO AMERIC Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD, CO 80111	Recordkeeping Fees	$18,887
THE ANGELL PENSION GROUP, INC.4 years Service code 13 88 BOYD AVENUE · EAST PROVIDENCE, RI 02914	Contract Administrator	$8,645

Plan features & details

Pension benefit codes2E2F2H2J2K2P2Q2T3I

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.
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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$112K

$1071 / participant

Recordkeeping$74K65.8%
Investment mgmt$38K34.2%

% of EOY assets

0.418%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

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

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$167,126

$78,485+112.9%

$106,213+57.4%

$74,495+124.3%

Participation rate

97.1%

72.8%+24.3pp

75.3%+21.9pp

67.2%+29.9pp

Annual return

16.63%

15.95%+0.7pp

116.14%-99.5pp

1364.94%-1348.3pp

Employer contribution / active EE

$1,496

$2,523-40.7%

$3,171-52.8%

$2,623-43.0%

Participant deferral / active EE

$6,718

$4,322+55.4%

$5,016+33.9%

$4,346+54.6%

Admin fee / account holder

$698

$2,232-68.7%

$11,033-93.7%

$1,942-64.0%

Provider

Service type

Compensation

WIPFLI LLP4 years

Service code 10

11 SCOTT STREET, SUITE 400 · WAUSAU, WI 54403

Accounting

$43,400

MERRILL LYNCH PIERCE FENNER & SMITH4 years

Service code 27

1400 AMERICAN BLVD, BLDG #4 · PENNINGTON, NJ 08534

Advisory (Plan)

$38,445

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE CO AMERIC

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD, CO 80111

Recordkeeping Fees

$18,887

THE ANGELL PENSION GROUP, INC.4 years

Service code 13

88 BOYD AVENUE · EAST PROVIDENCE, RI 02914

Contract Administrator

$8,645

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

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LETTER SYSTEMS, INC. EMPLOYEE STOCK OWNERSHIP 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