LKQ Corporation 401(k) Review & Grade
LKQ Corporation Employees' Retirement Plan
Chicago, ILRetail Trade15,960 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,174Employer $ per active participant
$2,536Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$727.8MNet plan assets, end of year
$61,458Average balance per account
Score breakdown
- Employer generosity38.2 / 5076th percentile for employer $ per participant
- Low cost11.7 / 2547th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1576th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 47th |
| Employee saving | 76th |
| Peers that auto-enroll | 32% |
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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 ($16,447 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $3,745 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- LKQ put in about $1,174 per active participant, more than the typical peer ($689). 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 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 | $18,743,815 |
| Participant (employee) contributions | $40,473,869 |
| Other contributions (incl. rollovers in) | $5,392,903 |
| Administrative expenses paid from the plan | $623,961 |
| Contract administrator fees | $623,961 |
| Benefits paid out | $97,514,391 |
| Net assets, start / end of year | $604.2M / $727.8M |
| Active participants, start / end of year | 16,652 / 15,267 |
| Participants with account balances | 11,842 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Warren Averett LLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $711,486 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250801090621NAL0003122771001, received 2025-08-01, EIN 36-4215970, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.