Leman Academy of Excellence, Inc. 401(k) Review & Grade
Leman Academy of Excellence 401(k) Plan
Tucson, AZEducational Services522 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,538Employer $ per active participant
$2,458Employee $ saved per active participant
1.50%Direct admin cost, % of plan assets
$7.9MNet plan assets, end of year
$11,784Average balance per account
Score breakdown
- Employer generosity29.7 / 5059th percentile for employer $ per participant
- Low cost0.6 / 253th percentile for low admin cost vs. same-size plans
- Employee saving6.5 / 1543th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score47 / 100 · Grade C
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 59th |
| Lower admin cost | 3th |
| Employee saving | 43th |
| Peers that auto-enroll | 37% |
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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
- Leman Academy of Excellence put in about $1,538 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.
- Direct plan expenses (1.50% 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.
- 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 | $802,040 |
| Participant (employee) contributions | $1,281,736 |
| Other contributions (incl. rollovers in) | $19,565 |
| Administrative expenses paid from the plan | $104,957 |
| Contract administrator fees | $16,691 |
| Investment advisory & management fees | $88,266 |
| Benefits paid out | $1,216,365 |
| Net assets, start / end of year | $6.2M / $7.9M |
| Active participants, start / end of year | 534 / 509 |
| Participants with account balances | 667 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pricekubecka, PLLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $92,207 reported compensation |
| Global Retirement Partners LLC | $34,873 reported compensation |
| Nova 401(k) Associates | $15,359 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250902115155NAL0014221745001, received 2025-09-02, EIN 47-1237723, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.