Lucid USA, Inc. 401(k) Review & Grade
Lucid Motors 401(k) Plan
Newark, CAProfessional, Scientific & Technical Services6,112 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,075Employer $ per active participant
$8,637Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$219.3MNet plan assets, end of year
$30,882Average balance per account
Score breakdown
- Employer generosity18.5 / 5037th percentile for employer $ per participant
- Low cost12.1 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving7.0 / 1547th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 48th |
| Employee saving | 47th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,092 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lucid USA put in about $2,075 per active participant, below the typical peer ($2,951). 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.
- 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 | $12,680,049 |
| Participant (employee) contributions | $52,782,507 |
| Other contributions (incl. rollovers in) | $9,419,418 |
| Administrative expenses paid from the plan | $230,276 |
| Contract administrator fees | $300 |
| Benefits paid out | $20,346,785 |
| Net assets, start / end of year | $139.8M / $219.3M |
| Active participants, start / end of year | 5,950 / 6,273 |
| Participants with account balances | 7,101 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Sensiba LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $236,021 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015200513NAL0011340818001, received 2025-10-15, EIN 26-1618465, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.