Retirement plan

FORMLABS RETIREMENT TRUST

Name: FORMLABS, INC. - FORMLABS RETIREMENT TRUST (2024) Form 5500
Creator: FORMLABS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FORMLABS RETIREMENT TRUST, FORMLABS, INC.

FORMLABS, INC.EIN 45-3644301Plan #001PY 2024

35 MEDFORD STREET, SUITE 306 - SOMERVILLE, MA 02143617-301-6272formlabs.comLinkedIn501-1000 employeesconsumer electronics

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$17.8M

+24.2% from 2023

Total participants

516

-9.6% from 2023

Average account balance

$55,602

+22.6% from 2023

Annual return

17.37%

-16.92 pp from 2023

Benchmarks

See 3,310 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,310 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.85M

Not enough data

1 years with asset history on file

Average account balance

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

$56K

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.

321

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.

49.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.16M

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

+17.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$203

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 3 by compensation

Provider	Service type	Compensation
STANCORP FINANCIAL GROUP7 years Service code 12 · EIN 93-1253576	Recordkeeping and information managem...	$38,039
TWELVE POINTS WEALTH MANAGEMENT LLC6 years Filed as: TWELVE POINTS WEALTH MGT LLC Service code 27 · EIN 46-5061538	Advisory (Plan)	$27,263
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB Service code 19 · EIN 42-1558009	Securities Custodian	$5,591

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$65K

$168 / participant

Investment mgmt$27K41.7%
Contract admin$38K58.3%

% of EOY assets

0.366%

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: FORVIS MAZARS LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$55,602

$106,110-47.6%

$147,005-62.2%

$77,671-28.4%

Participation rate

49.7%

78.4%-28.7pp

82.2%-32.4pp

70.6%-20.8pp

Annual return

17.37%

56.77%-39.4pp

418.76%-401.4pp

31.21%-13.8pp

Employer contribution / active EE

$4,065-100.0%

$4,934-100.0%

$2,726-100.0%

Participant deferral / active EE

$8,140

$7,992+1.9%

$8,070+0.9%

$4,648+75.1%

Admin fee / account holder

$203

$338-39.8%

$13,006-98.4%

$430-52.7%

Provider

Service type

Compensation

STANCORP FINANCIAL GROUP7 years

Service code 12 · EIN 93-1253576

Recordkeeping and information managem...

$38,039

TWELVE POINTS WEALTH MANAGEMENT LLC6 years

Filed as: TWELVE POINTS WEALTH MGT LLC

Service code 27 · EIN 46-5061538

Advisory (Plan)

$27,263

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB

Service code 19 · EIN 42-1558009

Securities Custodian

$5,591

FORMLABS RETIREMENT TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FORMLABS RETIREMENT TRUST

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