LCB Senior Living, LLC 401(k) Review & Grade
LCB Senior Living LLC 401(k) Profit Sharing Plan
Norwood, MAHealth Care & Social Assistance2,533 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$178Employer $ per active participant
$1,894Employee $ saved per active participant
1.24%Direct admin cost, % of plan assets
$23.2MNet plan assets, end of year
$6,560Average balance per account
Score breakdown
- Employer generosity14.1 / 5028th percentile for employer $ per participant
- Low cost0.7 / 253th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1541th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 28th |
| Lower admin cost | 3th |
| Employee saving | 41th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $9,844 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- LCB Senior Living put in about $178 per active participant, below the typical peer ($800). 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 (1.24% 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 | $451,758 |
| Participant (employee) contributions | $4,798,251 |
| Other contributions (incl. rollovers in) | $1,117,485 |
| Administrative expenses paid from the plan | $248,879 |
| Investment advisory & management fees | $152,007 |
| Benefits paid out | $2,583,924 |
| Net assets, start / end of year | $16.9M / $23.2M |
| Active participants, start / end of year | 2,235 / 2,831 |
| Participants with account balances | 3,544 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Gray, Gray, and Gray, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $146,872 reported compensation |
| Whalerock Point Partners LLC | $96,656 reported compensation |
| Empower Advisory Group, LLC | $5,352 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014154535NAL0006726802001, received 2025-10-14, EIN 38-3900044, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.