How much does Lgs Management Group, Inc. contribute to its ESOP?

In 2022, employer contributions to the Lgs Management Group, Inc. plan averaged $4,434 per active participant, above the $331 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Lgs Management Group, Inc. 401(k)?

The average participant account balance was -$29,010 for plan year 2022, based on 416 accounts.

Lgs Management Group, Inc.ESOP

Name: Lgs Management Group, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

LGS MANAGEMENT GROUP, INC. EMPLOYEE STOCK OWNERSHIP PLAN · VIRGINIA BEACH, VA · plan year 2022

Employer contribution per participant · 2022

$4,434

Lgs Management Group, Inc.'s 2022 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held -$12,068,319 across 416 participant accounts, with employer contributions averaging $4,434 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the under $1M size bracket, benchmarked here against 4,041 comparable plans and shown alongside other professional & technical services employers.

Plan summary
Net assets, end of year-$12,068,319
Participants with balances416
Active participants265
Employer contributions$1,175,140
Employee contributions—
Employer contribution per active participant$4,434
Average account balance-$29,010
Benefits paid to participants$177
Plan auditUnmodified (clean) audit opinion
AuditorFORVIS MAZARS, LLP

Plan history2

Yearassets · accounts · employer contribution

2023$-12.4M · 350 accts

2022$-12.1M · 416 accts · $1.2M emplr

Employer contributions to the Lgs Management Group, Inc. plan · 2022

Employer contribution per active participant$4,434

Median for plans this size$331

Lgs Management Group, Inc.'s 2022 employer contribution ran above the $331 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Administrative cost history2

2023Not separately reported

2022Not separately reported

Same employer

Lgs Management Group, Inc.'s health & benefits plan: carriers, premiums & broker pay

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Source: U.S. Department of Labor, Form 5500 series, EIN 825475512 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.