Lakeshirts, Inc.401(k)
LAKESHIRTS, INC. & AFFILIATES 401(K) PROFIT SHARING PLAN · DETROIT LAKES, MN · plan year 2024
Peer grade: D · admin costs + employer contributions vs same-size plans · how grading works
Lakeshirts, Inc. reported $81,860 in plan administrative expenses for 2024: 0.60% of average plan assets, higher than ~75% of peers. Employer contributions averaged $522 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio fell from 0.89% to 0.60%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other manufacturing employers. By assets it is among the smaller plans on file in Minnesota (1,133rd of 1,918), and 7,525th of 13,661 in manufacturing. In 2024, employees put in $3.39 for every $1.00 the employer contributed; active participation has grown from 513 to 702 since 2022.
Lakeshirts, Inc.'s 2024 employer contribution ran below the $2,416 median for plans its size, in the bottom quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
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Source: U.S. Department of Labor, Form 5500 series, EIN 411771405 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.