Lakeland Tours, LLC 401(k) Review & Grade
The Lakeland Group Retirement Savings Plan
Charlottesville, VAAdministrative, Support & Staffing Services1,305 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,755Employer $ per active participant
$4,697Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$91.0MNet plan assets, end of year
$52,163Average balance per account
Score breakdown
- Employer generosity37.5 / 5075th percentile for employer $ per participant
- Low cost15.8 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1576th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 500–2,499 active participants (401 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 75th |
| Lower admin cost | 63th |
| Employee saving | 76th |
| Peers that auto-enroll | 27% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $129,842 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lakeland Tours put in about $1,755 per active participant, more than the typical peer ($712). 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 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 | $2,290,378 |
| Participant (employee) contributions | $6,129,848 |
| Other contributions (incl. rollovers in) | $853,473 |
| Administrative expenses paid from the plan | $127,736 |
| Other admin expenses | $43,274 |
| Benefits paid out | $9,337,730 |
| Net assets, start / end of year | $79.5M / $91.0M |
| Active participants, start / end of year | 1,258 / 1,352 |
| Participants with account balances | 1,745 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Hantzmon Wiebel LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $84,462 reported compensation |
| Comperio Retirement Consulting, in | $43,274 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013103853NAL0001720800001, received 2025-10-13, EIN 54-1902946, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.