L & R Distributors, Inc. 401(k) Review & Grade
L & R Distributors, Inc. 401(k) Profit Sharing Plan and Trust
Brooklyn, NYWholesale Trade1,160 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$675Employer $ per active participant
$1,763Employee $ saved per active participant
1.13%Direct admin cost, % of plan assets
$18.1MNet plan assets, end of year
$11,035Average balance per account
Score breakdown
- Employer generosity6.3 / 5013th percentile for employer $ per participant
- Low cost1.3 / 255th percentile for low admin cost vs. same-size plans
- Employee saving1.5 / 1510th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score6 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 5th |
| Employee saving | 10th |
| Peers that auto-enroll | 53% |
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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 ($553 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $34,003 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- L & R Distributors put in about $675 per active participant, below the typical peer ($1,792). 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 (1.13% 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $783,546 |
| Participant (employee) contributions | $2,046,179 |
| Other contributions (incl. rollovers in) | $454,048 |
| Administrative expenses paid from the plan | $184,545 |
| Contract administrator fees | $116,045 |
| Investment advisory & management fees | $25,500 |
| Benefits paid out | $1,620,936 |
| Net assets, start / end of year | $14.6M / $18.1M |
| Active participants, start / end of year | 1,174 / 1,147 |
| Participants with account balances | 1,636 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Price Waterhouse Coopers |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $128,358 reported compensation |
| Price Waterhouse Coopers LLP | $29,895 reported compensation |
| Hardy Reed LLC | $25,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015144054NAL0002586707001, received 2025-10-15, EIN 11-1812912, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.