Retirement plan

LG ELECTRONICS RETIREMENT PLAN

Name: LG ELECTRONICS USA, INC. - LG ELECTRONICS RETIREMENT PLAN (2023) Form 5500
Creator: LG ELECTRONICS USA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LG ELECTRONICS RETIREMENT PLAN, LG ELECTRONICS USA, INC.

LG ELECTRONICS USA, INC.EIN 13-2950311Plan #001PY 2023

111 SYLVAN AVENUE - ENGLEWOOD CLIFFS, NJ 07632201-816-2000

Prospect flagsFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$383.6M

-8.4% from 2016

Total participants

4,156

-5.5% from 2016

Average account balance

$114,805

-2.4% from 2016

Annual return

18.24%

-7.58 pp from 2016

Benchmarks

See 809 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort809 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$450.47M

Not enough data

1 years with asset history on file

Average account balance

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

$123K

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.

3,655

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.

81.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$40.47M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+17.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$160

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
STRATEGIC ADVISORS, INC.9+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$201,568
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$187,824
NFP RETIREMENT INC8 years Filed as: NFP RETIREMENT, INC. Service code 27 · EIN 33-0905143	Advisory (Plan)	$84,381
PLANTE & MORAN, PLLC9+ years Filed as: PLANTE MORAN PLLC Service code 10 · EIN 38-1357951	Accounting	$29,500

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$567K

$188 / participant

Recordkeeping$187K32.9%
Investment mgmt$266K46.8%
Contract admin$9000.2%
Other / not subdivided$114K20.1%

% of EOY assets

0.148%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PLANTE & MORAN, PLLC
Auditor EIN: 381357951
Audit fees: $29,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$114,805

$104,544+9.8%

$96,564+18.9%

$80,187+43.2%

Participation rate

73.0%

86.4%-13.3pp

76.0%-3.0pp

72.9%+0.1pp

Annual return

18.24%

21.79%-3.6pp

25.89%-7.7pp

40.40%-22.2pp

Employer contribution / active EE

$3,641

$3,527+3.2%

$2,967+22.7%

$2,980+22.2%

Participant deferral / active EE

$8,223

$6,170+33.3%

$4,852+69.5%

$5,016+63.9%

Admin fee / account holder

$170

$107+58.9%

$8,256-97.9%

$145+17.1%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.9+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$201,568

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$187,824

NFP RETIREMENT INC8 years

Filed as: NFP RETIREMENT, INC.

Service code 27 · EIN 33-0905143

Advisory (Plan)

$84,381

PLANTE & MORAN, PLLC9+ years

Filed as: PLANTE MORAN PLLC

Service code 10 · EIN 38-1357951

Accounting

$29,500

LG ELECTRONICS RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LG ELECTRONICS RETIREMENT 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