Retirement plan

FIRSTLIGHT FIBER, INC. 401K PLAN

Name: FIRSTLIGHT FIBER, INC. - FIRSTLIGHT FIBER, INC. 401K PLAN (2022) Form 5500
Creator: FIRSTLIGHT FIBER, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRSTLIGHT FIBER, INC. 401K PLAN, FIRSTLIGHT FIBER, INC.

FIRSTLIGHT FIBER, INC.EIN 01-0656735Plan #001PY 2022

41 STATE STREET - ALBANY, NY 12207315-940-5907

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$59.4M

-12.3% from 2021

Total participants

941

+5.8% from 2021

Average account balance

$69,785

-16.8% from 2021

Annual return

-16.14%

-32.21 pp from 2021

Benchmarks

See 605 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants250-999

Cohort605 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$73.13M

Not enough data

1 years with asset history on file

Average account balance

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

$112K

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.

654

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.

89.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.73M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+10.06%

Not enough data

1 years with return on file

Admin fee / account holder

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

$145

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
DANIEL H. COOK ASSOCIATES, INC2 years Filed as: DANIEL A MONTE - SAGE TREE WEALTH Service code 27 10 EAST CHURCH STREET · FAIRPORT, NY 14450	Advisory (Plan)	$83,294
EPLAN ADVISORS, LLC2 years Filed as: EPLAN SERVICES, LLC Service code 17 · EIN 36-1543746	Pension Consulting	$66,162

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

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.
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)).

Opportunity flags

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$169K

$259 / participant

Investment mgmt$149K88.2%
Contract admin$20K11.8%

% of EOY assets

0.285%

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: BST & CO. CPAS LLP
Auditor EIN: 141442607
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$69,785

$64,612+8.0%

$86,451-19.3%

$64,824+7.7%

Participation rate

86.2%

81.5%+4.8pp

80.3%+5.9pp

71.5%+14.8pp

Annual return

-16.14%

0.66%-16.8pp

4398.51%-4414.6pp

32.84%-49.0pp

Employer contribution / active EE

$3,039

$2,744+10.7%

$3,770-19.4%

$2,507+21.2%

Participant deferral / active EE

$6,416

$7,497-14.4%

$6,953-7.7%

$4,311+48.8%

Admin fee / account holder

$199

$169+17.8%

$6,734-97.0%

$188+6.0%

Provider

Service type

Compensation

DANIEL H. COOK ASSOCIATES, INC2 years

Filed as: DANIEL A MONTE - SAGE TREE WEALTH

Service code 27

10 EAST CHURCH STREET · FAIRPORT, NY 14450

Advisory (Plan)

$83,294

EPLAN ADVISORS, LLC2 years

Filed as: EPLAN SERVICES, LLC

Service code 17 · EIN 36-1543746

Pension Consulting

$66,162

FIRSTLIGHT FIBER, INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRSTLIGHT FIBER, INC. 401K 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