Foley & Lardner LLP 401(k) Review & Grade
Foley & Lardner LLP Defined Contribution Retirement Plan
Milwaukee, WIProfessional, Scientific & Technical Services2,142 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$13,200Employer $ per active participant
$15,699Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$1.7BNet plan assets, end of year
$541,116Average balance per account
Score breakdown
- Employer generosity47.7 / 5095th percentile for employer $ per participant
- Low cost21.3 / 2585th percentile for low admin cost vs. same-size plans
- Employee saving13.7 / 1591th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score90 / 100 · Grade A
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 95th |
| Lower admin cost | 85th |
| Employee saving | 91th |
| Peers that auto-enroll | 48% |
Red flags from the filing
Corrective distributions: the plan refunded $1,117 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Foley & Lardner LLP put in about $13,200 per active participant, more than the typical peer ($3,082). 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 | $28,274,653 |
| Participant (employee) contributions | $33,626,991 |
| Other contributions (incl. rollovers in) | $6,203,105 |
| Administrative expenses paid from the plan | $905,277 |
| Investment advisory & management fees | $736,196 |
| Benefits paid out | $114,739,169 |
| Net assets, start / end of year | $1.5B / $1.7B |
| Active participants, start / end of year | 2,175 / 2,109 |
| Participants with account balances | 3,143 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services Inc | $228,973 reported compensation |
| Fiducient Advisors LLC | $164,983 reported compensation |
| Luther King Capital Management | $113,137 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251106124020NAL0015458720001, received 2025-11-06, EIN 39-0473800, plan #007, plan year 2024-02-01 to 2025-01-31. Verify at efast.dol.gov.
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