Leap Services, Inc. 401(k) Review & Grade
Leap Services, Inc. 401(k) Plan
Chicago, ILProfessional, Scientific & Technical Services599 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$75Employer $ per active participant
$958Employee $ saved per active participant
1.15%Direct admin cost, % of plan assets
$2.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity3.4 / 507th percentile for employer $ per participant
- Low cost1.2 / 255th percentile for low admin cost vs. same-size plans
- Employee saving0.7 / 155th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score0 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 7th |
| Lower admin cost | 5th |
| Employee saving | 5th |
| Peers that auto-enroll | 48% |
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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 ($20,611 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $77,560 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Leap Services put in about $75 per active participant, below the typical peer ($3,082). 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 (1.15% 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 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 | $44,835 |
| Participant (employee) contributions | $573,600 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $31,149 |
| Contract administrator fees | $17,498 |
| Investment advisory & management fees | $13,651 |
| Benefits paid out | $565,118 |
| Net assets, start / end of year | $2.5M / $2.9M |
| Active participants, start / end of year | 498 / 700 |
| Participants with account balances | 109 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Kruggel, Lawton and Company LLC |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $17,498 reported compensation |
| Resources Investment Advisors. | $13,651 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260327132721NAL0003526563001, received 2026-03-27, EIN 82-5482221, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.