L&m Development Partners LLC 401(k) Review & Grade
L&m Development Partners LLC 401k Retirement Savings Plan
Larchmont, NYReal Estate & Rental513 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,392Employer $ per active participant
$7,352Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$90.0MNet plan assets, end of year
$170,534Average balance per account
Score breakdown
- Employer generosity45.0 / 5090th percentile for employer $ per participant
- Low cost13.5 / 2554th percentile for low admin cost vs. same-size plans
- Employee saving12.8 / 1586th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score69 / 100 · Grade B
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 90th |
| Lower admin cost | 54th |
| Employee saving | 86th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Auditor disclaimer: the auditor issued a disclaimer of opinion.
What to do if you're in this plan
- L&m Development Partners put in about $4,392 per active participant, more than the typical peer ($1,279). 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 | $2,253,208 |
| Participant (employee) contributions | $3,771,489 |
| Other contributions (incl. rollovers in) | $774,706 |
| Administrative expenses paid from the plan | $179,432 |
| Contract administrator fees | $166,182 |
| Other admin expenses | $13,250 |
| Benefits paid out | $15,130,979 |
| Net assets, start / end of year | $86.8M / $90.0M |
| Active participants, start / end of year | 491 / 535 |
| Participants with account balances | 528 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Lipsky, Goodkin & Co., P.C. |
Largest service providers (Schedule C)
| John Hancock New York | $9,792 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014140929NAL0006238642001, received 2025-10-14, EIN 13-3248408, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.