Retirement plan

EMPLOYEE BENEFIT PLAN OF LGS MANAGEMENT GROUP, INC.

Name: LGS MANAGEMENT GROUP, INC. - EMPLOYEE BENEFIT PLAN OF LGS MANAGEMENT GROUP, INC. (2024) Form 5500
Creator: LGS MANAGEMENT GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPLOYEE BENEFIT PLAN OF LGS MANAGEMENT GROUP, INC., LGS MANAGEMENT GROUP, INC.

LGS MANAGEMENT GROUP, INC.EIN 82-5475512Plan #001PY 2024

2901 S LYNNHAVEN RD STE 450 - VIRGINIA BEACH, VA 234528524757-222-0300

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$3.2M

+4.0% from 2023

Total participants

-22.1% from 2023

Average account balance

$63,563

+39.4% from 2023

Annual return

16.24%

-10.99 pp from 2023

Benchmarks

See 574 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants25-99

Cohort574 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.18M

Not enough data

1 years with asset history on file

Average account balance

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

$64K

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.

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.

185.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$205K

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

+16.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11562

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2F2G2T3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$578K

$21410 / participant

Other / not subdivided$578K100.0%

% of EOY assets

18.189%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$63,563

$96,236-34.0%

$136,072-53.3%

$80,935-21.5%

Participation rate

63.0%

71.2%-8.2pp

76.4%-13.5pp

67.7%-4.7pp

Annual return

16.24%

28.74%-12.5pp

580.46%-564.2pp

35.66%-19.4pp

Employer contribution / active EE

$2,485

$3,350-25.8%

$4,216-41.1%

$2,757-9.9%

Participant deferral / active EE

$5,101

$5,709-10.6%

$7,028-27.4%

$4,299+18.6%

Admin fee / account holder

$11,562

$8,250+40.1%

$6,718+72.1%

$6,924+67.0%

EMPLOYEE BENEFIT PLAN OF LGS MANAGEMENT GROUP, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPLOYEE BENEFIT PLAN OF LGS MANAGEMENT GROUP, INC.

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