Retirement plan

LGI SERVICES, LLC 403(B) PLAN

Name: LGI SERVICES, LLC - LGI SERVICES, LLC 403(B) PLAN (2024) Form 5500
Creator: LGI SERVICES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LGI SERVICES, LLC 403(B) PLAN, LGI SERVICES, LLC

LGI SERVICES, LLCEIN 46-4232802Plan #005PY 2024

250 W 64TH ST - NEW YORK, NY 100236601212-769-6200

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$40M

+8.9% from 2023

Total participants

419

-4.3% from 2023

Average account balance

$99,657

+14.6% from 2023

Annual return

10.28%

-3.63 pp from 2023

Benchmarks

See 2,063 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort2,063 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$39.96M

Not enough data

1 years with asset history on file

Average account balance

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

$100K

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.

401

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.

88.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.17M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+10.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$396

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
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290	Contract Administrator	$83,335
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY GLOBAL BA Service code 27 · EIN 26-4310632	Advisory (Plan)	$75,128
LGI SERVICES6 years Service code 49 · EIN 46-4232802	Other Services	$17,661

Plan features & details

Pension benefit codes2F2G2L2M2S2T3D

Plan features

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$159K

$1024 / participant

Investment mgmt$75K47.5%
Contract admin$83K52.5%

% of EOY assets

0.397%

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: BDO USA P.C.
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$99,657

$60,261+65.4%

$81,783+21.9%

$74,546+33.7%

Participation rate

88.4%

62.9%+25.5pp

72.4%+16.0pp

67.2%+21.2pp

Annual return

10.28%

16.88%-6.6pp

775.05%-764.8pp

1366.03%-1355.8pp

Employer contribution / active EE

$6,204

$2,622+136.7%

$2,913+113.0%

$2,624+136.4%

Participant deferral / active EE

$7,786

$3,388+129.8%

$4,320+80.2%

$4,347+79.1%

Admin fee / account holder

$396

$1,482-73.3%

$7,380-94.6%

$1,944-79.6%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY10+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$83,335

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY GLOBAL BA

Service code 27 · EIN 26-4310632

Advisory (Plan)

$75,128

LGI SERVICES6 years

Service code 49 · EIN 46-4232802

Other Services

$17,661

LGI SERVICES, LLC 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LGI SERVICES, LLC 403(B) 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