Lincoln Technical Institute, Inc. 401(k) Review & Grade
Lincoln Technical Institute, Inc 401(k) Plan
Parsippany, NJEducational Services2,183 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$386Employer $ per active participant
$3,297Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$99.1MNet plan assets, end of year
$26,855Average balance per account
Score breakdown
- Employer generosity6.3 / 5013th percentile for employer $ per participant
- Low cost9.7 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving9.2 / 1562th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 39th |
| Employee saving | 62th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Lincoln Technical Institute put in about $386 per active participant, below the typical peer ($1,225). 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.
- 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.
- 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 | $841,631 |
| Participant (employee) contributions | $7,197,030 |
| Other contributions (incl. rollovers in) | $186,107 |
| Administrative expenses paid from the plan | $299,521 |
| Contract administrator fees | $299,504 |
| Benefits paid out | $12,906,523 |
| Net assets, start / end of year | $91.2M / $99.1M |
| Active participants, start / end of year | 2,094 / 2,272 |
| Participants with account balances | 3,690 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton |
Largest service providers (Schedule C)
| Milliman, Inc. | $299,504 reported compensation |
| Chares Schwab Trust Bank | $41,344 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014104219NAL0005518194001, received 2025-10-14, EIN 22-2074593, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.