Lamps Plus Inc 401(k) Review & Grade
Lamps Plus 401(k) Plan
Chatsworth, CARetail Trade852 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$554Employer $ per active participant
$4,731Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$58.6MNet plan assets, end of year
$55,856Average balance per account
Score breakdown
- Employer generosity19.8 / 5040th percentile for employer $ per participant
- Low cost17.8 / 2571th percentile for low admin cost vs. same-size plans
- Employee saving11.7 / 1578th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score46 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 40th |
| Lower admin cost | 71th |
| Employee saving | 78th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $99,799 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lamps Plus put in about $554 per active participant, below the typical peer ($743). 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.
- 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 | $471,842 |
| Participant (employee) contributions | $4,028,801 |
| Other contributions (incl. rollovers in) | $301,206 |
| Administrative expenses paid from the plan | $67,661 |
| Investment advisory & management fees | $45,802 |
| Benefits paid out | $15,871,314 |
| Net assets, start / end of year | $62.1M / $58.6M |
| Active participants, start / end of year | 891 / 812 |
| Participants with account balances | 1,049 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Moss Adams |
Largest service providers (Schedule C)
| Global Retirement Partners LLC | $23,302 reported compensation |
| Trent D. Bryson | $22,500 reported compensation |
| Fidelity Investments Institutional | $21,859 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250520211100NAL0001552899001, received 2025-05-20, EIN 95-3033131, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.