Lakes Venture, LLC 401(k) Review & Grade
Fresh Thyme Market 401(k) Plan
Downers Grove, ILRetail Trade3,525 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$426Employer $ per active participant
$1,308Employee $ saved per active participant
0.65%Direct admin cost, % of plan assets
$33.8MNet plan assets, end of year
$10,316Average balance per account
Score breakdown
- Employer generosity16.2 / 5032th percentile for employer $ per participant
- Low cost2.2 / 259th percentile for low admin cost vs. same-size plans
- Employee saving4.9 / 1533th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score30 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 32th |
| Lower admin cost | 9th |
| Employee saving | 33th |
| Peers that auto-enroll | 42% |
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Red flags from the filing
Corrective distributions: the plan refunded $16,805 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lakes Venture put in about $426 per active participant, below the typical peer ($650). 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 (0.65% of assets) are well above similar-size plans (0.12%). 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,502,436 |
| Participant (employee) contributions | $4,612,351 |
| Other contributions (incl. rollovers in) | $246,963 |
| Administrative expenses paid from the plan | $202,046 |
| Benefits paid out | $4,465,855 |
| Net assets, start / end of year | $28.3M / $33.8M |
| Active participants, start / end of year | 3,056 / 3,994 |
| Participants with account balances | 3,280 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $202,046 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007140939NAL0002732339001, received 2025-10-07, EIN 46-1124457, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.