LL Bean Inc 401(k) Review & Grade
L.L. Bean 401(k) Retirement Savings Plan
Freeport, MERetail Trade7,196 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,961Employer $ per active participant
$2,839Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$803.4MNet plan assets, end of year
$143,214Average balance per account
Score breakdown
- Employer generosity43.7 / 5087th percentile for employer $ per participant
- Low cost18.3 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving9.6 / 1564th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score65 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 73th |
| Employee saving | 64th |
| Peers that auto-enroll | 42% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- LL Bean put in about $1,961 per active participant, more than the typical peer ($650). 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 | $14,112,990 |
| Participant (employee) contributions | $20,426,203 |
| Other contributions (incl. rollovers in) | $1,680,972 |
| Administrative expenses paid from the plan | $455,146 |
| Contract administrator fees | $42,369 |
| Other admin expenses | $61,800 |
| Benefits paid out | $71,533,337 |
| Net assets, start / end of year | $721.3M / $803.4M |
| Active participants, start / end of year | 7,315 / 7,076 |
| Participants with account balances | 5,610 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdmp Assurance, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $330,230 reported compensation |
| Verrill | $63,116 reported compensation |
| Ubs Financial Servic | $61,800 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929130503NAL0011323217001, received 2025-09-29, EIN 01-0026590, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.