Lee Enterprises, Inc. 401(k) Review & Grade
Lee Enterprises, Inc. Employees Retirement Account Plan
Davenport, IAInformation3,286 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,005Employer $ per active participant
$4,034Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$441.6MNet plan assets, end of year
$77,276Average balance per account
Score breakdown
- Employer generosity6.8 / 5014th percentile for employer $ per participant
- Low cost23.6 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving1.5 / 1510th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Information plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 94th |
| Employee saving | 10th |
| Peers that auto-enroll | 63% |
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Red flags from the filing
Corrective distributions: the plan refunded $316 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lee Enterprises put in about $1,005 per active participant, below the typical peer ($3,691). 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 | $3,302,606 |
| Participant (employee) contributions | $13,256,262 |
| Other contributions (incl. rollovers in) | $3,609,617 |
| Administrative expenses paid from the plan | $88,859 |
| Investment advisory & management fees | $37,430 |
| Other admin expenses | −$59,117 |
| Benefits paid out | $74,586,656 |
| Net assets, start / end of year | $447.3M / $441.6M |
| Active participants, start / end of year | 3,415 / 3,158 |
| Participants with account balances | 5,714 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cohnreznick, LLP |
| Employer stock held by plan | $408 |
Largest service providers (Schedule C)
| Groom Law Group Chartered | $51,855 reported compensation |
| Cohnreznick LLP | $34,433 reported compensation |
| Mercer (US) Inc | $25,680 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015155014NAL0010466978001, received 2025-10-15, EIN 42-0823980, plan #018, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.