Lord, Abbett & Co. LLC 401(k) Review & Grade
Lord Abbett 401(k) Retirement Plan
Jersey City, NJFinance & Insurance794 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$12,309Employer $ per active participant
$18,399Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$554.1MNet plan assets, end of year
$423,286Average balance per account
Score breakdown
- Employer generosity47.9 / 5096th percentile for employer $ per participant
- Low cost23.5 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving14.3 / 1595th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score86 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 96th |
| Lower admin cost | 94th |
| Employee saving | 95th |
| Peers that auto-enroll | 62% |
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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 ($18,750 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
- Lord, Abbett & Co. put in about $12,309 per active participant, more than the typical peer ($3,606). 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.
- 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 | $9,773,588 |
| Participant (employee) contributions | $14,608,431 |
| Other contributions (incl. rollovers in) | $1,833,853 |
| Administrative expenses paid from the plan | $134,783 |
| Other admin expenses | $134,783 |
| Benefits paid out | $44,555,658 |
| Net assets, start / end of year | $507.1M / $554.1M |
| Active participants, start / end of year | 789 / 799 |
| Participants with account balances | 1,309 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cohn Reznick |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $93,437 reported compensation |
| Cohnreznickllp | $41,475 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260713195906NAL0000890690001, received 2026-07-13, EIN 13-5620131, plan #003, plan year 2024-10-01 to 2025-09-30. Verify at efast.dol.gov.