Lca Vision, Inc. 401(k) Review & Grade
Lca Vision, Inc 401(k) Retirement Plan
Cincinnati, OHAdministrative, Support & Staffing Services664 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$706Employer $ per active participant
$5,150Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$39.1MNet plan assets, end of year
$43,250Average balance per account
Score breakdown
- Employer generosity24.9 / 5050th percentile for employer $ per participant
- Low cost12.3 / 2549th 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: Administrative, Support & Staffing Services plans with 500–2,499 active participants (401 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 49th |
| Employee saving | 78th |
| Peers that auto-enroll | 27% |
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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 ($118,400 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $11,422 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lca Vision put in about $706 per active participant, below the typical peer ($712). 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.
- 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 | $468,537 |
| Participant (employee) contributions | $3,416,903 |
| Other contributions (incl. rollovers in) | $1,110,327 |
| Administrative expenses paid from the plan | $85,598 |
| Contract administrator fees | $27,222 |
| Investment advisory & management fees | $36,029 |
| Benefits paid out | $4,184,929 |
| Net assets, start / end of year | $33.5M / $39.1M |
| Active participants, start / end of year | 710 / 617 |
| Participants with account balances | 904 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Clark, Schaefer, Hackett & Co. |
Largest service providers (Schedule C)
| Newport Group, Inc. | $38,846 reported compensation |
| PNC Institutional Asset Management | $36,029 reported compensation |
| Newport Trust Company | $10,809 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250905115718NAL0017166881001, received 2025-09-05, EIN 11-2882328, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.