Lunchtime Solutions, Inc. 401(k) Review & Grade
Lunchtime Solutions, Inc. 401(k) Plan
Dakota Dunes, SDAccommodation & Food Services699 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$201Employer $ per active participant
$596Employee $ saved per active participant
0.71%Direct admin cost, % of plan assets
$4.1MNet plan assets, end of year
$6,531Average balance per account
Score breakdown
- Employer generosity20.9 / 5042th percentile for employer $ per participant
- Low cost3.2 / 2513th percentile for low admin cost vs. same-size plans
- Employee saving5.4 / 1536th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 42th |
| Lower admin cost | 13th |
| Employee saving | 36th |
| Peers that auto-enroll | 17% |
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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 ($179 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $3,415 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lunchtime Solutions put in about $201 per active participant, below the typical peer ($266). 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.
- Direct plan expenses (0.71% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $140,264 |
| Participant (employee) contributions | $416,708 |
| Other contributions (incl. rollovers in) | $165,154 |
| Administrative expenses paid from the plan | $26,853 |
| Investment advisory & management fees | $4,814 |
| Benefits paid out | $588,527 |
| Net assets, start / end of year | $3.5M / $4.1M |
| Active participants, start / end of year | 619 / 779 |
| Participants with account balances | 624 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Henjes Conner and Williams PC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $22,039 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260320104004NAL0005162993001, received 2026-03-20, EIN 91-1819160, plan #001, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.