Legal & General America, Inc. 401(k) Review & Grade
Legal & General America, Inc. Savings Plan
Frederick, MDManagement of Companies1,175 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,638Employer $ per active participant
$10,839Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$218.8MNet plan assets, end of year
$149,365Average balance per account
Score breakdown
- Employer generosity42.7 / 5085th percentile for employer $ per participant
- Low cost18.2 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving12.9 / 1586th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score81 / 100 · Grade A
This plan vs. peers
Peers: Management of Companies plans with 500–2,499 active participants (172 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 85th |
| Lower admin cost | 73th |
| Employee saving | 86th |
| Peers that auto-enroll | 58% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $9,283 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Legal & General America put in about $6,638 per active participant, more than the typical peer ($2,492). 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.
- 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 | $7,800,189 |
| Participant (employee) contributions | $12,735,989 |
| Other contributions (incl. rollovers in) | $4,329,471 |
| Administrative expenses paid from the plan | $208,003 |
| Investment advisory & management fees | $78,726 |
| Other admin expenses | $1,700 |
| Benefits paid out | $11,887,183 |
| Net assets, start / end of year | $177.4M / $218.8M |
| Active participants, start / end of year | 1,156 / 1,194 |
| Participants with account balances | 1,465 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cohnreznick LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services Inc | $154,999 reported compensation |
| Cohnreznick LLP | $20,265 reported compensation |
| Wells Fargo Bank | $6,328 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251208094856NAL0001977170001, received 2025-12-08, EIN 52-1236150, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.