L-M Asphalt Partners, LTD. (D/B/A Ats Construction) 401(k) Review & Grade
Ats Construction 401(k) Retirement Plan
Lexington, KYConstruction578 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,633Employer $ per active participant
$1,756Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$26.9MNet plan assets, end of year
$30,877Average balance per account
Score breakdown
- Employer generosity44.0 / 5088th percentile for employer $ per participant
- Low cost7.7 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 31th |
| Employee saving | 18th |
| Peers that auto-enroll | 44% |
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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
- L-M Asphalt Partners, LTD. (D/B/A Ats Construction) put in about $4,633 per active participant, more than the typical peer ($1,672). 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.
- Direct plan expenses (0.40% of assets) are well above similar-size plans (0.23%). 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 | $2,677,947 |
| Participant (employee) contributions | $1,015,028 |
| Other contributions (incl. rollovers in) | $24,023 |
| Administrative expenses paid from the plan | $98,882 |
| Investment advisory & management fees | $21,135 |
| Benefits paid out | $2,399,259 |
| Net assets, start / end of year | $23.1M / $26.9M |
| Active participants, start / end of year | 586 / 570 |
| Participants with account balances | 872 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | RFH, PLLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $77,830 reported compensation |
| Fifth Third Bank | $26,029 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250818085610NAL0001085905001, received 2025-08-18, EIN 61-1219911, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.