Lennar Corporation 401(k) Review & Grade
Lennar Corporation 401(k) Plan
Miami, FLConstruction12,306 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,867Employer $ per active participant
$9,766Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$1.6BNet plan assets, end of year
$95,973Average balance per account
Score breakdown
- Employer generosity40.4 / 5081th percentile for employer $ per participant
- Low cost12.5 / 2550th percentile for low admin cost vs. same-size plans
- Employee saving11.7 / 1578th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score62 / 100 · Grade B
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 81th |
| Lower admin cost | 50th |
| Employee saving | 78th |
| Peers that auto-enroll | 50% |
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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 ($106,131 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $31,718 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lennar put in about $5,867 per active participant, more than the typical peer ($2,229). 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.
- 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 | $72,201,582 |
| Participant (employee) contributions | $120,182,278 |
| Other contributions (incl. rollovers in) | $20,191,394 |
| Administrative expenses paid from the plan | $1,307,195 |
| Investment advisory & management fees | $128,872 |
| Other admin expenses | $850,463 |
| Benefits paid out | $178,051,162 |
| Net assets, start / end of year | $1.4B / $1.6B |
| Active participants, start / end of year | 11,477 / 13,135 |
| Participants with account balances | 16,857 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe LLP |
| Employer stock held by plan | $13,827,556 |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $251,336 reported compensation |
| Capfinancial Partners LLC | $128,872 reported compensation |
| Faegre Drinker Biddle & Reath LLP | $39,527 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014151544NAL0003257409001, received 2025-10-14, EIN 95-4337490, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.