Luma Energy, LLC 401(k) Review & Grade
Luma Energy 401 (K) PR Retirement Savings Plan
San Juan, PRUtilities3,173 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,245Employer $ per active participant
$3,244Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$75.7MNet plan assets, end of year
$19,090Average balance per account
Score breakdown
- Employer generosity2.7 / 505th percentile for employer $ per participant
- Low cost15.3 / 2561th percentile for low admin cost vs. same-size plans
- Employee saving0.4 / 153th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score11 / 100 · Grade F
This plan vs. peers
Peers: Utilities plans with 2,500–9,999 active participants (38 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 5th |
| Lower admin cost | 61th |
| Employee saving | 3th |
| Peers that auto-enroll | 82% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($8,018,801 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Luma Energy put in about $2,245 per active participant, below the typical peer ($6,490). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $7,124,314 |
| Participant (employee) contributions | $10,292,482 |
| Other contributions (incl. rollovers in) | $1,673,386 |
| Administrative expenses paid from the plan | $55,810 |
| Investment advisory & management fees | $25,235 |
| Benefits paid out | $2,681,274 |
| Net assets, start / end of year | $52.0M / $75.7M |
| Active participants, start / end of year | 2,631 / 3,715 |
| Participants with account balances | 3,963 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Galindez, LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $30,575 reported compensation |
| Strategic Advisors, Inc. | $25,235 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015155203NAL0002698595001, received 2025-10-15, EIN 66-0940278, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.