Lewis Drugs, Inc. 401(k) Review & Grade
Lewis Drugs, Inc. 401(k) Plan
Sioux Falls, SDRetail Trade1,238 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$636Employer $ per active participant
$1,935Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$56.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity22.4 / 5045th percentile for employer $ per participant
- Low cost9.4 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving4.9 / 1533th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score30 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 37th |
| Employee saving | 33th |
| 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
Late deposits: the filing says some employee contributions were not sent to the plan on time ($99,423 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Lewis Drugs put in about $636 per active participant, below the typical peer ($743). 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.
- 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 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 | $786,869 |
| Participant (employee) contributions | $2,395,777 |
| Other contributions (incl. rollovers in) | $43,247 |
| Administrative expenses paid from the plan | $172,109 |
| Investment advisory & management fees | $126,526 |
| Benefits paid out | $3,094,083 |
| Net assets, start / end of year | $49.2M / $56.1M |
| Active participants, start / end of year | 1,218 / 1,258 |
| Participants with account balances | 438 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Eide Bailly, LLP |
Largest service providers (Schedule C)
| Morgan Stanley | $126,526 reported compensation |
| Milliman, Inc | $31,027 reported compensation |
| Matrix Trust Company | $14,556 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924090411NAL0007326049001, received 2025-09-24, EIN 46-0212323, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.