Lakeside Foods, Inc. 401(k) Review & Grade
Lakeside Foods, Inc. Retirement Plan
Manitowoc, WIManufacturing1,334 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,313Employer $ per active participant
$3,791Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$113.7MNet plan assets, end of year
$59,194Average balance per account
Score breakdown
- Employer generosity24.9 / 5050th percentile for employer $ per participant
- Low cost9.7 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving5.0 / 1534th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 39th |
| Employee saving | 34th |
| Peers that auto-enroll | 59% |
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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 ($2,580 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $204,112 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lakeside Foods put in about $2,313 per active participant, below the typical peer ($2,320). 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.
- 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.
- 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 | $3,084,972 |
| Participant (employee) contributions | $5,057,729 |
| Other contributions (incl. rollovers in) | $3,760,085 |
| Administrative expenses paid from the plan | $343,368 |
| Investment advisory & management fees | $288,622 |
| Benefits paid out | $8,118,231 |
| Net assets, start / end of year | $102.8M / $113.7M |
| Active participants, start / end of year | 1,308 / 1,360 |
| Participants with account balances | 1,921 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Hawkins Ash CPA, LLC |
Largest service providers (Schedule C)
| Associated Trust Company, N.A. | $343,368 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251017113531NAL0007557985001, received 2025-10-17, EIN 39-0417640, plan #001, plan year 2024-05-01 to 2025-04-30. Verify at efast.dol.gov.