Lockton, Inc. 401(k) Review & Grade
Lockton, Inc. 401(k) Plan
Kansas City, MOFinance & Insurance6,918 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,762Employer $ per active participant
$11,721Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$1.4BNet plan assets, end of year
$162,133Average balance per account
Score breakdown
- Employer generosity39.9 / 5080th percentile for employer $ per participant
- Low cost17.9 / 2572th percentile for low admin cost vs. same-size plans
- Employee saving12.3 / 1582th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score77 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 80th |
| Lower admin cost | 72th |
| Employee saving | 82th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $52,843 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lockton put in about $7,762 per active participant, more than the typical peer ($4,489). 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.
- 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 | $53,692,952 |
| Participant (employee) contributions | $81,079,336 |
| Other contributions (incl. rollovers in) | $25,390,194 |
| Administrative expenses paid from the plan | $815,314 |
| Contract administrator fees | $815,314 |
| Benefits paid out | $129,428,277 |
| Net assets, start / end of year | $1.2B / $1.4B |
| Active participants, start / end of year | 6,777 / 7,058 |
| Participants with account balances | 8,620 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rubin Brown LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $619,102 reported compensation |
| Creative Planning LLC | $83,958 reported compensation |
| Cetera Investment Advisers LLC | $35,641 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015082653NAL0004068273001, received 2025-10-15, EIN 90-0007886, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.