Lamb Weston, Inc. 401(k) Review & Grade
Lamb Weston, Inc. 401(k) Plan for Plant Hourly Employees
Eagle, IDManufacturing5,390 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,923Employer $ per active participant
$3,353Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$253.5MNet plan assets, end of year
$44,042Average balance per account
Score breakdown
- Employer generosity28.7 / 5057th percentile for employer $ per participant
- Low cost7.1 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score46 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 57th |
| Lower admin cost | 28th |
| Employee saving | 18th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $8,241 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lamb Weston put in about $3,923 per active participant, more than the typical peer ($3,452). 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 (0.25% of assets) are well above similar-size plans (0.12%). 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 | $21,146,670 |
| Participant (employee) contributions | $18,073,406 |
| Other contributions (incl. rollovers in) | $958,410 |
| Administrative expenses paid from the plan | $578,974 |
| Contract administrator fees | $1,500 |
| Investment advisory & management fees | $98,191 |
| Benefits paid out | $30,117,200 |
| Net assets, start / end of year | $217.5M / $253.5M |
| Active participants, start / end of year | 5,541 / 5,240 |
| Participants with account balances | 5,756 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eide Bailly LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $455,222 reported compensation |
| Strategic Advisors, Inc. | $52,726 reported compensation |
| Mercer Investments LLC | $45,465 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250908154534NAL0032856304001, received 2025-09-08, EIN 20-8865395, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.