Plan Snapshot
- Plan Sponsor: Life Time, INC.
- Sponsor EIN: 411689746
- Sponsor Address: 2902 CORPORATE PLACE, CHANHASSEN, MN, 55317
- Plan Type: 401(k)
- Total Participants: 41,362
- Total Assets: $332.1M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- 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 | 41,362 | $332.1M | $5.2M | $33.7M |
| 2023 | 27,316 | $276.9M | $0 | $29.7M |
| 2022 | 23,608 | $224.4M | $0 | $27.8M |
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 |
|---|---|---|---|---|
| DELOITTE & TOUCHE LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- DELOITTE & TOUCHE LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $825,566 | $280,745 | $1,500 | — | — |
| 2023 | $807,962 | $233,172 | $600 | $37,768 | — |
| 2022 | $820,263 | — | — | — | — |