# Lacks Enterprises, INC. 401(k) Plan
Source: https://planprovider.pro/companies/lacks-enterprises-inc-401k-plan

> Lacks Enterprises, INC.'s 401(k) plan: 2,238 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Lacks Enterprises, INC.

- **Sponsor EIN:** 382650857

- **Sponsor Address:** 5460 CASCADE RD SE, GRAND RAPIDS, MI, 495466406

- **Plan Type:** 401(k)

- **Total Participants:** 2,238

- **Total Assets:** $240.6M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** Yes

- **Participant Loans:** No

- **Participant-Directed Investments:** Yes

- **ERISA Section 404(c) Fiduciary Safe Harbor:** Yes

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|2,238|$240.6M|$1.9M|$10.1M|

| 2023|2,312|$223.9M|$1.8M|$9.9M|

| 2022|2,275|$203.4M|$1.6M|$9.6M|

## Service Providers (Schedule C)

Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).

| Provider Name|
Role|
Direct Compensation|
Indirect Compensation|
Total Fees|

| PRINCIPAL LIFE INSURANCE COMPANY|CONTRACT ADMINISTRATOR|$383,733|$11,589|$395,322|

| WELLS FARGO ADVISORS|CONSULTANT|$60,000|$60,000|$120,000|

| HUNGERFORD|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [HUNGERFORD](https://planprovider.pro/provider/hungerford-nichols) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $515,322

- **Estimated Expense Ratio:** 0.214% of plan assets

### Historical Administrative Expenses

Breakdown of administrative expense categories reported on Form 5500 filings.

| Year|
Total Admin Expenses|
Investment Mgmt Fees|
Contract Admin Fees|
IQPA Audit Fees|
Professional Fees|

| 2024|$515,292|$119,970|$395,322|—|—|

| 2023|$483,255|$99,624|$383,631|—|—|

| 2022|$468,624|$90,000|$378,624|—|—|

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[View full interactive plan profile on PlanProvider.Pro](https://planprovider.pro/companies/lacks-enterprises-inc-401k-plan)

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