Retirement plan

LUCID MOTORS 401(K) PLAN

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

LUCID USA, INC.EIN 26-1618465Plan #001PY 2024

7373 GATEWAY BOULEVARD - NEWARK, CA 94560650-802-8181

Prospect flagsLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$219.3M

+56.9% from 2023

Total participants

7,761

+12.0% from 2023

Average account balance

$30,882

+39.0% from 2023

Annual return

24.62%

-11.64 pp from 2023

Benchmarks

See 109 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants5,000-9,999

Cohort109 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$219.29M

Not enough data

1 years with asset history on file

Average account balance

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

$31K

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.

7,101

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.

89.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$65.46M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+24.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$32

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 1 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL8 years Service code 37 · EIN 04-2647786	Loan Processing	$236,021

Plan features & details

Pension benefit codes2E2F2G2J2T3D2R

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.
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

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$230K

$37 / participant

Recordkeeping$230K99.9%
Contract admin$3000.1%

% of EOY assets

0.105%

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: SENSIBA LLP
Auditor EIN: 942370906
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$30,882

$119,626-74.2%

$147,096-79.0%

$99,269-68.9%

Participation rate

89.5%

73.4%+16.0pp

82.2%+7.3pp

71.7%+17.8pp

Annual return

24.62%

28.81%-4.2pp

419.75%-395.1pp

17.66%+7.0pp

Employer contribution / active EE

$2,021

$4,152-51.3%

$4,936-59.0%

$3,265-38.1%

Participant deferral / active EE

$8,414

$7,997+5.2%

$8,071+4.3%

$5,344+57.5%

Admin fee / account holder

$32

$150-78.3%

$13,005-99.8%

$109-70.3%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL8 years

Service code 37 · EIN 04-2647786

Loan Processing

$236,021

LUCID MOTORS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LUCID MOTORS 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