Firstlight Fiber, Inc. 401(k) Review & Grade
Firstlight Fiber, Inc. 401k Plan
Albany, NYInformation507 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,502Employer $ per active participant
$7,802Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$73.1MNet plan assets, end of year
$111,812Average balance per account
Score breakdown
- Employer generosity30.6 / 5061th percentile for employer $ per participant
- Low cost16.6 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving6.5 / 1543th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 66th |
| Employee saving | 43th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,316 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Firstlight Fiber put in about $3,502 per active participant, more than the typical peer ($2,829). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $1,775,356 |
| Participant (employee) contributions | $3,955,836 |
| Other contributions (incl. rollovers in) | $1,817,921 |
| Administrative expenses paid from the plan | $94,756 |
| Investment advisory & management fees | $12,500 |
| Benefits paid out | $7,012,049 |
| Net assets, start / end of year | $67.6M / $73.1M |
| Active participants, start / end of year | 520 / 494 |
| Participants with account balances | 654 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | BST and Co Cpas LLP |
Largest service providers (Schedule C)
| Onedigital Investment Advisors LLC | $50,000 reported compensation |
| Fidelity Investments Institutional | $26,141 reported compensation |
| Fast 401k Inc DBA Eplan SVC Inc | $24,962 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013081847NAL0000397667001, received 2025-10-13, EIN 01-0656735, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.