Leonard Management 401(k) Review & Grade
Leonard Management 401(k) Plan
Elkhorn, NEAccommodation & Food Services740 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$428Employer $ per active participant
$751Employee $ saved per active participant
1.61%Direct admin cost, % of plan assets
$4.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity33.4 / 5067th percentile for employer $ per participant
- Low cost0.6 / 252th percentile for low admin cost vs. same-size plans
- Employee saving7.1 / 1547th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-10 pts1 issue reported on the filing
Total score31 / 100 · Grade D
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 67th |
| Lower admin cost | 2th |
| Employee saving | 47th |
| Peers that auto-enroll | 17% |
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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 ($24,088 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 Management put in about $428 per active participant, more than the typical peer ($266). 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 (1.61% 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 | $316,763 |
| Participant (employee) contributions | $555,458 |
| Other contributions (incl. rollovers in) | $60,594 |
| Administrative expenses paid from the plan | $60,056 |
| Contract administrator fees | $60,056 |
| Benefits paid out | $227,789 |
| Net assets, start / end of year | $3.2M / $4.3M |
| Active participants, start / end of year | 778 / 701 |
| Participants with account balances | 226 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Wendling Noe Nelson & Johnson LLC |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $48,223 reported compensation |
| Bank of America NA | $9,385 reported compensation |
| Futureplan by Ascensus | $2,250 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250916070506NAL0001743953001, received 2025-09-16, EIN 42-1426079, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.