Lac Acquisition, LLC 401(k) Review & Grade
Valued Employee Retirement Savings Plan
South Bend, INHealth Care & Social Assistance1,198 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$23Employer $ per active participant
$1,205Employee $ saved per active participant
0.55%Direct admin cost, % of plan assets
$18.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity5.0 / 5010th percentile for employer $ per participant
- Low cost5.1 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1527th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score4 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 10th |
| Lower admin cost | 20th |
| Employee saving | 27th |
| Peers that auto-enroll | 36% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($327,442 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $10,820 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lac Acquisition put in about $23 per active participant, below the typical peer ($976). 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.
- Direct plan expenses (0.55% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $27,320 |
| Participant (employee) contributions | $1,443,551 |
| Other contributions (incl. rollovers in) | $188,464 |
| Administrative expenses paid from the plan | $91,860 |
| Contract administrator fees | $28,274 |
| Investment advisory & management fees | $63,586 |
| Benefits paid out | $873,816 |
| Net assets, start / end of year | $15.2M / $18.2M |
| Active participants, start / end of year | 699 / 1,697 |
| Participants with account balances | 422 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Creative Planning, LLC | $63,586 reported compensation |
| John Hancock Retirement Plan Srvcs | $28,274 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015103748NAL0002256035001, received 2025-10-15, EIN 83-2007393, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.