Legend Biotech USA, Inc. 401(k) Review & Grade
Legend Biotech 401(k) Plan
Somerset, NJProfessional, Scientific & Technical Services1,182 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,181Employer $ per active participant
$9,936Employee $ saved per active participant
0.43%Direct admin cost, % of plan assets
$65.8MNet plan assets, end of year
$43,138Average balance per account
Score breakdown
- Employer generosity37.3 / 5075th percentile for employer $ per participant
- Low cost6.9 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving8.8 / 1558th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score53 / 100 · Grade C
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 75th |
| Lower admin cost | 28th |
| Employee saving | 58th |
| Peers that auto-enroll | 48% |
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 $1,567 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Legend Biotech USA put in about $5,181 per active participant, more than the typical peer ($3,082). 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.
- Direct plan expenses (0.43% 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 | $6,123,664 |
| Participant (employee) contributions | $11,744,606 |
| Other contributions (incl. rollovers in) | $4,274,419 |
| Administrative expenses paid from the plan | $233,369 |
| Contract administrator fees | $210,859 |
| Investment advisory & management fees | $18,910 |
| Other admin expenses | $3,600 |
| Benefits paid out | $5,842,357 |
| Net assets, start / end of year | $42.1M / $65.8M |
| Active participants, start / end of year | 1,018 / 1,346 |
| Participants with account balances | 1,526 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Withum Smith & Brown, PC |
Largest service providers (Schedule C)
| Gallagher Benefit Services Inc | $82,874 reported compensation |
| Pentegra Services Inc. | $24,868 reported compensation |
| Voya Retirement Insurance and Annui | $18,551 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251029111235NAL0000587507001, received 2025-10-29, EIN 82-2688234, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.