Alex Lee, Inc. 401(k) Review & Grade
Alex Lee, Inc. and Affiliates Retirement Savings Plan
Hickory, NCWholesale Trade10,758 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$245Employer $ per active participant
$2,442Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$323.1MNet plan assets, end of year
$31,307Average balance per account
Score breakdown
- Employer generosity0.0 / 500th percentile for employer $ per participant
- Low cost3.3 / 2513th percentile for low admin cost vs. same-size plans
- Employee saving1.8 / 1512th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 10,000+ active participants (35 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 0th |
| Lower admin cost | 13th |
| Employee saving | 12th |
| Peers that auto-enroll | 63% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Alex Lee put in about $245 per active participant, below the typical peer ($2,420). 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 (0.24% of assets) are well above similar-size plans (0.09%). 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $2,631,206 |
| Participant (employee) contributions | $26,273,640 |
| Other contributions (incl. rollovers in) | $1,327,601 |
| Administrative expenses paid from the plan | $750,573 |
| Other admin expenses | $187,727 |
| Benefits paid out | $33,713,257 |
| Net assets, start / end of year | $294.7M / $323.1M |
| Active participants, start / end of year | 10,772 / 10,743 |
| Participants with account balances | 10,322 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $562,846 reported compensation |
| Aon | $187,724 reported compensation |
| Charles Schwab & Co., Inc. | $1,915 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008094848NAL0009501024001, received 2025-10-08, EIN 56-1780605, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.