Lennox International Inc. 401(k) Review & Grade
Lennox International Inc. 401(k) for Hourly Employees
Richardson, TXManufacturing4,892 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,369Employer $ per active participant
$2,613Employee $ saved per active participant
0.28%Direct admin cost, % of plan assets
$129.3MNet plan assets, end of year
$22,248Average balance per account
Score breakdown
- Employer generosity8.1 / 5016th percentile for employer $ per participant
- Low cost6.2 / 2525th percentile for low admin cost vs. same-size plans
- Employee saving1.8 / 1512th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score6 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 25th |
| Employee saving | 12th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $4,730 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lennox International put in about $1,369 per active participant, below the typical peer ($3,452). Any match is still an instant return, so contribute enough to get all of it.
- 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 (0.28% of assets) are well above similar-size plans (0.12%). 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 | $6,697,907 |
| Participant (employee) contributions | $12,782,455 |
| Other contributions (incl. rollovers in) | $237,686 |
| Administrative expenses paid from the plan | $344,015 |
| Investment advisory & management fees | $30,611 |
| Benefits paid out | $25,721,381 |
| Net assets, start / end of year | $115.3M / $129.3M |
| Active participants, start / end of year | 4,779 / 5,006 |
| Participants with account balances | 5,810 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Clark,schaefer,hackett & Co |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $300,904 reported compensation |
| Strategic Advisors, Inc. | $30,611 reported compensation |
| Clark,schaefer,hackett & Co | $12,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015082131NAL0008636530001, received 2025-10-15, EIN 42-0991521, plan #045, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.