Lanehart Electrical Contractors, LLC 401(k) Review & Grade
Lanehart Electrical Contractors, LLC 401(k) Profit Sharing Plan
Irving, TXConstruction512 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$439Employer $ per active participant
$2,301Employee $ saved per active participant
0.73%Direct admin cost, % of plan assets
$16.7MNet plan assets, end of year
$34,237Average balance per account
Score breakdown
- Employer generosity7.3 / 5015th percentile for employer $ per participant
- Low cost3.0 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1527th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 12th |
| Employee saving | 27th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,882 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lanehart Electrical Contractors put in about $439 per active participant, below the typical peer ($1,672). 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 (0.73% 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.
- 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 | $225,201 |
| Participant (employee) contributions | $1,179,271 |
| Other contributions (incl. rollovers in) | $250,258 |
| Administrative expenses paid from the plan | $112,726 |
| Contract administrator fees | $13,680 |
| Investment advisory & management fees | $95,876 |
| Benefits paid out | $576,006 |
| Net assets, start / end of year | $14.1M / $16.7M |
| Active participants, start / end of year | 518 / 507 |
| Participants with account balances | 488 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pricekubecka,pllc |
Largest service providers (Schedule C)
| Proaccount | $95,524 reported compensation |
| Cecilco | $42,280 reported compensation |
| Nationwide | $32,490 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250925150345NAL0008659297001, received 2025-09-25, EIN 76-0121360, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.