Lexmark International 401(k) Review & Grade
Lexmark Savings Plan
Lexington, KYManufacturing1,741 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,767Employer $ per active participant
$12,043Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$1.2BNet plan assets, end of year
$413,850Average balance per account
Score breakdown
- Employer generosity40.6 / 5081th percentile for employer $ per participant
- Low cost22.5 / 2590th percentile for low admin cost vs. same-size plans
- Employee saving14.1 / 1594th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 81th |
| Lower admin cost | 90th |
| Employee saving | 94th |
| Peers that auto-enroll | 59% |
Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Lexmark International put in about $4,767 per active participant, more than the typical peer ($2,320). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- 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 | $8,299,617 |
| Participant (employee) contributions | $20,966,245 |
| Other contributions (incl. rollovers in) | $2,129,318 |
| Administrative expenses paid from the plan | $505,224 |
| Contract administrator fees | $900 |
| Investment advisory & management fees | $480,273 |
| Other admin expenses | $55,579 |
| Benefits paid out | $205,126,917 |
| Net assets, start / end of year | $1.2B / $1.2B |
| Active participants, start / end of year | 1,919 / 1,563 |
| Participants with account balances | 2,926 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $159,753 reported compensation |
| Mercer Investments LLC | $55,000 reported compensation |
| Cherry Bekaert LLP | $25,900 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010071508NAL0007751569001, received 2025-10-10, EIN 06-1308215, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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