Retirement plan

LIGHT SOURCES, INC.401(K) PLAN

Name: LIGHT SOURCES, INC. - LIGHT SOURCES, INC.401(K) PLAN (2024) Form 5500
Creator: LIGHT SOURCES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LIGHT SOURCES, INC.401(K) PLAN, LIGHT SOURCES, INC.

LIGHT SOURCES, INC.EIN 06-1074620Plan #001PY 2024

37 ROBINSON BLVD - ORANGE, CT 064773623203-799-7877LinkedIn501-1000 employeeselectrical/electronic manufacturing

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$28M

+8.3% from 2023

Total participants

203

-7.7% from 2023

Average account balance

$154,766

+18.5% from 2023

Annual return

11.38%

-1.95 pp from 2023

Benchmarks

See 4,099 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,099 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$28.01M

Not enough data

1 years with asset history on file

Average account balance

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

$155K

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.

181

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.

85.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.30M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+11.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$802

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 4 by compensation

Provider	Service type	Compensation
PROCYON INSTITUTIONAL PARTNERS LLC3 years Filed as: PROCYON ADVISORS, LLC Service code 15 · EIN 82-1652002	Recordkeeping	$100,069
ADP BROKER-DEALER3 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$28,474
MAGII PENSION SERVICES LLC10+ years Filed as: MAGII PENSION SERVICES, LLC Service code 15 · EIN 26-2480211	Recordkeeping	$16,261
ADP BROKER-DEALER3 years Filed as: ADP Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$145K

$974 / participant

Contract admin$145K100.0%

% of EOY assets

0.518%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WALSH & DICKINSON
Auditor EIN: 823222207
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$154,766

$79,223+95.4%

$102,460+51.1%

$74,478+107.8%

Participation rate

85.2%

74.8%+10.5pp

76.5%+8.7pp

67.2%+18.0pp

Annual return

11.38%

54.98%-43.6pp

29.47%-18.1pp

1370.56%-1359.2pp

Employer contribution / active EE

$3,663

$2,363+55.0%

$3,025+21.1%

$2,626+39.5%

Participant deferral / active EE

$5,088

$4,417+15.2%

$5,056+0.6%

$4,350+16.9%

Admin fee / account holder

$802

$2,003-60.0%

$9,460-91.5%

$1,946-58.8%

Provider

Service type

Compensation

PROCYON INSTITUTIONAL PARTNERS LLC3 years

Filed as: PROCYON ADVISORS, LLC

Service code 15 · EIN 82-1652002

Recordkeeping

$100,069

ADP BROKER-DEALER3 years

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$28,474

MAGII PENSION SERVICES LLC10+ years

Filed as: MAGII PENSION SERVICES, LLC

Service code 15 · EIN 26-2480211

Recordkeeping

$16,261

ADP BROKER-DEALER3 years

Filed as: ADP

Service code 59

Shareholder Servicing

LIGHT SOURCES, INC.401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LIGHT SOURCES, INC.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