Lids Holdings Inc. 401(k) Review & Grade
Lids 401(k) Salary Deferral Plan
Indianapolis, INRetail Trade2,684 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$478Employer $ per active participant
$910Employee $ saved per active participant
1.07%Direct admin cost, % of plan assets
$14.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity18.7 / 5037th percentile for employer $ per participant
- Low cost1.0 / 254th percentile for low admin cost vs. same-size plans
- Employee saving2.6 / 1517th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 4th |
| Employee saving | 17th |
| Peers that auto-enroll | 42% |
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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 ($249,735 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
- Lids Holdings put in about $478 per active participant, below the typical peer ($650). 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 (1.07% 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.
- 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 | $1,282,519 |
| Participant (employee) contributions | $2,441,866 |
| Other contributions (incl. rollovers in) | $264,007 |
| Administrative expenses paid from the plan | $133,396 |
| Contract administrator fees | $72,267 |
| Investment advisory & management fees | $61,129 |
| Benefits paid out | $1,333,726 |
| Net assets, start / end of year | $10.4M / $14.5M |
| Active participants, start / end of year | 3,840 / 1,527 |
| Participants with account balances | 713 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Katz, Sapper & Miller, LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $72,268 reported compensation |
| Brighton Jones LLC | $61,129 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014095017NAL0001195491001, received 2025-10-14, EIN 83-3165318, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.