New Legend, Inc. 401(k) Review & Grade
New Legend, Inc. 401(k) Plan · d/b/a Legend Transportation
Phoenix, AZTransportation & Warehousing776 active participantsPlan year 2024
Estimate from the plan's Form 5500-SF filing · How we grade
$96Employer $ per active participant
$391Employee $ saved per active participant
1.22%Direct admin cost, % of plan assets
$1.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity3.2 / 506th percentile for employer $ per participant
- Low cost1.1 / 254th percentile for low admin cost vs. same-size plans
- Employee saving0.6 / 154th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score5 / 100 · Grade F
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 6th |
| Lower admin cost | 4th |
| Employee saving | 4th |
| Peers that auto-enroll | 37% |
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
Corrective distributions: the plan refunded $16,586 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- New Legend put in about $96 per active participant, below the typical peer ($1,070). 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.
- Direct plan expenses (1.22% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $74,144 |
| Participant (employee) contributions | $303,396 |
| Other contributions (incl. rollovers in) | $7,857 |
| Administrative expenses paid from the plan | $18,206 |
| Benefits paid out | $726,619 |
| Net assets, start / end of year | $1.6M / $1.4M |
| Active participants, start / end of year | 932 / 620 |
| Participants with account balances | 89 |
| Auto-enrollment (feature code 2S) | Not reported |
Source: DOL EFAST2 Form 5500-SF filing, acknowledgment ID 20250827134920NAL0005012883001, received 2025-08-27, EIN 82-2521606, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.