Landus Cooperative 401(k) Review & Grade
Landus 401(k) Plan
Des Moines, IAAgriculture, Forestry, Fishing & Hunting667 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,593Employer $ per active participant
$5,932Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$80.4MNet plan assets, end of year
$98,435Average balance per account
Score breakdown
- Employer generosity44.4 / 5089th percentile for employer $ per participant
- Low cost11.0 / 2544th percentile for low admin cost vs. same-size plans
- Employee saving13.3 / 1589th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Agriculture, Forestry, Fishing & Hunting plans with 500–2,499 active participants (118 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 89th |
| Lower admin cost | 44th |
| Employee saving | 89th |
| Peers that auto-enroll | 36% |
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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 ($10,582 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $19,294 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Landus Cooperative put in about $3,593 per active participant, more than the typical peer ($774). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $2,396,608 |
| Participant (employee) contributions | $3,956,428 |
| Other contributions (incl. rollovers in) | $3,418,032 |
| Administrative expenses paid from the plan | $210,751 |
| Contract administrator fees | $34,351 |
| Investment advisory & management fees | $176,400 |
| Benefits paid out | $11,169,035 |
| Net assets, start / end of year | $73.7M / $80.4M |
| Active participants, start / end of year | 687 / 647 |
| Participants with account balances | 817 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forge Financial & Mgmt. Consulting |
Largest service providers (Schedule C)
| Principal Securities Inc | $195,953 reported compensation |
| Principal Life Insurance Company | $35,681 reported compensation |
| Edelman Financial Engines, LLC | $6,212 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013112425NAL0000542035001, received 2025-10-13, EIN 42-0243650, plan #030, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.