Lindamood-Bell Learning Processes 401(k) Review & Grade
Lindamood-Bell Learning Processes 401(k) Profit Sharing Plan
San Luis Obispo, CAEducational Services613 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$278Employer $ per active participant
$2,044Employee $ saved per active participant
0.28%Direct admin cost, % of plan assets
$17.7MNet plan assets, end of year
$44,770Average balance per account
Score breakdown
- Employer generosity3.8 / 508th percentile for employer $ per participant
- Low cost10.6 / 2543th percentile for low admin cost vs. same-size plans
- Employee saving5.2 / 1535th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score13 / 100 · Grade F
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 8th |
| Lower admin cost | 43th |
| Employee saving | 35th |
| Peers that auto-enroll | 37% |
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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 ($94,148 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
- Lindamood-Bell Learning Processes put in about $278 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 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 | $170,340 |
| Participant (employee) contributions | $1,253,166 |
| Other contributions (incl. rollovers in) | $143,402 |
| Administrative expenses paid from the plan | $46,373 |
| Contract administrator fees | $8,518 |
| Benefits paid out | $766,558 |
| Net assets, start / end of year | $15.0M / $17.7M |
| Active participants, start / end of year | 684 / 542 |
| Participants with account balances | 396 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Caliber Audit & Attest, LLP |
Largest service providers (Schedule C)
| Newport Group, Inc. | $39,849 reported compensation |
| Newport Trust Company | $6,524 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003143845NAL0001517601001, received 2025-10-03, EIN 77-0140920, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.