Leonardo DRS, Inc. 401(k) Review & Grade
Leonardo DRS, Inc. 401(k) Plan
Arlington, VAManufacturing6,273 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,949Employer $ per active participant
$9,665Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$1.3BNet plan assets, end of year
$171,017Average balance per account
Score breakdown
- Employer generosity34.7 / 5069th percentile for employer $ per participant
- Low cost12.1 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving11.8 / 1578th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 69th |
| Lower admin cost | 48th |
| Employee saving | 78th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $9,477 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Leonardo DRS put in about $4,949 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.
- 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.
- 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 | $31,043,299 |
| Participant (employee) contributions | $60,628,120 |
| Other contributions (incl. rollovers in) | $12,082,385 |
| Administrative expenses paid from the plan | $1,580,630 |
| Contract administrator fees | $2,700 |
| Investment advisory & management fees | $1,204,764 |
| Other admin expenses | $37,390 |
| Benefits paid out | $123,100,146 |
| Net assets, start / end of year | $1.2B / $1.3B |
| Active participants, start / end of year | 6,030 / 6,516 |
| Participants with account balances | 7,662 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Rubinbrown LLP |
| Employer stock held by plan | $254,242,511 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $308,016 reported compensation |
| Rubinbrown LLC | $22,600 reported compensation |
| Jackson Lewis P C | $7,859 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015094853NAL0004499665001, received 2025-10-15, EIN 13-2632319, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.