Lee FP, Inc. DBA Cypress Living 401(k) Review & Grade
Cypress 401(k) Plan · d/b/a Cypress Living
Fort Myers, FLManagement of Companies572 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,215Employer $ per active participant
$2,685Employee $ saved per active participant
0.72%Direct admin cost, % of plan assets
$13.6MNet plan assets, end of year
$20,121Average balance per account
Score breakdown
- Employer generosity11.7 / 5023th percentile for employer $ per participant
- Low cost3.1 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving3.2 / 1521th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Management of Companies plans with 500–2,499 active participants (172 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 12th |
| Employee saving | 21th |
| Peers that auto-enroll | 58% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Lee FP, Inc. DBA Cypress Living put in about $1,215 per active participant, below the typical peer ($2,492). 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 (0.72% 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.
- 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 | $694,806 |
| Participant (employee) contributions | $1,535,591 |
| Other contributions (incl. rollovers in) | $41,931 |
| Administrative expenses paid from the plan | $89,909 |
| Contract administrator fees | $50,445 |
| Benefits paid out | $1,386,153 |
| Net assets, start / end of year | $11.3M / $13.6M |
| Active participants, start / end of year | 597 / 547 |
| Participants with account balances | 677 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Stancorp Financial Group | $50,444 reported compensation |
| NFP Retirement | $39,464 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003134502NAL0001472337001, received 2025-10-03, EIN 65-0184989, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.