Lendmark Financial Services, LLC 401(k) Review & Grade
Lendmark 401(k) Plan
Lawrenceville, GAFinance & Insurance2,210 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,368Employer $ per active participant
$4,137Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$114.7MNet plan assets, end of year
$45,346Average balance per account
Score breakdown
- Employer generosity13.9 / 5028th percentile for employer $ per participant
- Low cost9.5 / 2538th percentile for low admin cost vs. same-size plans
- Employee saving2.2 / 1515th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 28th |
| Lower admin cost | 38th |
| Employee saving | 15th |
| Peers that auto-enroll | 62% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($856 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Lendmark Financial Services put in about $2,368 per active participant, below the typical peer ($3,606). 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 | $5,235,129 |
| Participant (employee) contributions | $9,145,370 |
| Other contributions (incl. rollovers in) | $944,548 |
| Administrative expenses paid from the plan | $347,750 |
| Investment advisory & management fees | $102,831 |
| Benefits paid out | $12,368,792 |
| Net assets, start / end of year | $100.6M / $114.7M |
| Active participants, start / end of year | 2,144 / 2,277 |
| Participants with account balances | 2,529 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | HLB Gross Collins PC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $244,919 reported compensation |
| Alliant Insurance Services Inc DBA | $94,679 reported compensation |
| Advised Assets Group, LLC | $8,153 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015161701NAL0006734912001, received 2025-10-15, EIN 58-2257419, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.