Leonard Aluminum Utility Bldgs 401(k) Review & Grade
Leonard Aluminum Utility Bldgs LLC, Ret Plan
Mount Airy, NCManufacturing828 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$769Employer $ per active participant
$1,863Employee $ saved per active participant
1.02%Direct admin cost, % of plan assets
$11.1MNet plan assets, end of year
$18,350Average balance per account
Score breakdown
- Employer generosity6.0 / 5012th percentile for employer $ per participant
- Low cost1.5 / 256th percentile for low admin cost vs. same-size plans
- Employee saving1.5 / 1510th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score2 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 6th |
| Employee saving | 10th |
| 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 ($93,071 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Leonard Aluminum Utility Bldgs put in about $769 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.
- Direct plan expenses (1.02% 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 | $637,283 |
| Participant (employee) contributions | $1,543,521 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $109,247 |
| Contract administrator fees | $84,751 |
| Investment advisory & management fees | $24,496 |
| Benefits paid out | $2,558,686 |
| Net assets, start / end of year | $10.3M / $11.1M |
| Active participants, start / end of year | 874 / 783 |
| Participants with account balances | 603 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bernard Robinson & Company |
Largest service providers (Schedule C)
| Ascensus LLC | $84,751 reported compensation |
| Patriot Financial Group | $24,496 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014154520NAL0004420768001, received 2025-10-14, EIN 58-1080422, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.