LANCO EMPLOYEES RETIREMENT/ PROFIT SHARING PLAN
ERISA Form 5500 plan record drawn from DOL EBSA — verify with linked source filings below.
LANCO ASSEMBLY SYSTEMS, INC.
This 401(k) plan holds $14M in total assets and serves 176 participants as of 2022. It is sponsored by LANCO ASSEMBLY SYSTEMS, INC. in Maine. The plan reported a net loss of $9M for the year.
What the Filing Says About LANCO EMPLOYEES RETIREMENT/ PROFIT SHARING PLAN
LANCO EMPLOYEES RETIREMENT/ PROFIT SHARING PLAN is a 401(k) retirement plan sponsored by LANCO ASSEMBLY SYSTEMS, INC., headquartered in Maine. As of the 2022 Form 5500 filing, the plan reports $14M in total end-of-year assets and covers 176 participants across the Manufacturing industry. The sponsor's EIN on file with the U.S. Department of Labor is 010394214, and the plan has been effective since 1992-01-01. Its filing status is currently FILING RECEIVED.
Year over year, total assets moved from $23M at the beginning of 2022 to $14M at year-end — a decline of 38.0%. Net assets (after liabilities) closed the year at $14M, with reported net income of $-8,837,409 driven by investment returns, contributions received, and benefit payments during the period. These figures reflect what the plan administrator certified on Schedule H or Schedule I of the Form 5500 annual return and can be compared against 2 prior plan-year filings from the same sponsor shown below.
Asset totals and participant counts reflect a single plan year snapshot and can change materially with market conditions, plan mergers, or workforce changes. Fields such as "net income" include both realized investment performance and contribution/distribution flows — a single-year figure does not by itself indicate plan health or participant outcomes. This page summarizes public DOL disclosures for research and educational purposes only and is not retirement, tax, legal, or financial advice. Before making decisions about your own retirement benefits or evaluating an employer's plan, verify the underlying filing directly via the DOL EFAST2 system and consult a qualified professional.
Financial Summary (2023)
| Total Assets (Beginning of Year) | $23M |
| Total Assets (End of Year) | $14M |
| Net Assets (End of Year) | $14M |
| Net Income | $-8,837,409 |
| Plan Type | 401(k) |
| Employer EIN | 010394214 |
| Plan Effective Date | 1992-01-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (LANCO ASSEMBLY SYSTEMS, INC.)
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 2 | 328 | $20M |
| 2023 | 2 | 290 | $25M |
| 2024 | 2 | 260 | $27M |
Nearby 401(k) Plans in Maine
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Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2022.
Source: DOL EFAST2 filing system (efast.dol.gov) — original filing retrieval by EIN 010394214.
Reference: IRS Publication 560 — Retirement Plans for Small Business, contribution-limit rules.
Reference: IRS Publication 590-B — Distributions from IRAs, RMD rules under SECURE Act 2.0.
Read our methodology — how this data is sourced, computed, and verified.