Legacy Traditional Schools 401(k) Review & Grade
Legacy Traditional Schools 401(k) Plan
Chandler, AZEducational Services1,528 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,316Employer $ per active participant
$1,946Employee $ saved per active participant
0.28%Direct admin cost, % of plan assets
$32.5MNet plan assets, end of year
$37,873Average balance per account
Score breakdown
- Employer generosity26.6 / 5053th percentile for employer $ per participant
- Low cost10.9 / 2544th percentile for low admin cost vs. same-size plans
- Employee saving4.9 / 1533th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 53th |
| Lower admin cost | 44th |
| Employee saving | 33th |
| Peers that auto-enroll | 37% |
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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 ($230,128 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Legacy Traditional Schools put in about $1,316 per active participant, more than the typical peer ($1,225). 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 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 | $2,010,665 |
| Participant (employee) contributions | $2,973,667 |
| Other contributions (incl. rollovers in) | $157,283 |
| Administrative expenses paid from the plan | $82,724 |
| Contract administrator fees | $14,188 |
| Investment advisory & management fees | $23,052 |
| Benefits paid out | $4,070,678 |
| Net assets, start / end of year | $27.6M / $32.5M |
| Active participants, start / end of year | 1,537 / 1,519 |
| Participants with account balances | 858 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Empower Annuity Ins Co of America | $90,843 reported compensation |
| Mid-Atlantic Pension Specialists | $31,559 reported compensation |
| LPL Financial RP | $23,052 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260311071050NAL0005019952001, received 2026-03-11, EIN 46-0641842, plan #002, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.