Leith 401(k) match, vesting and fees
What Leith's 401(k) plan says about matching contributions
The Company, at its discretion, may match participant contributions to the Plan. In 2024, the Company matched 25% of the first 5% of eligible compensation that a participant contributed to the Plan. The Company’s matching contribution for the year ended December 31, 2024, was $1,395,230.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 26 ↗ |
| Match vesting | Vesting—Participants are vested immediately in their contributions, plus actual earnings thereon. Vesting in the Company’s contribution portion of their accounts is based on years of continuous service. A participant is 100% vested after six years of credited service for the discretionary profit-sharing contributions. A participant is 100% vested ratably after six years of credited service for employer-matching contributions. Participants become fully vested at age 65, or upon death, disability, or retirement under the Company’s retirement policy. | Audit report, p. 27 ↗ |
| Roth contributions | Participants have the option to make Roth elective salary reduction contributions up to 50% of after tax annual compensation, as defined by the Plan, subject to certain IRC limitations. | Audit report, p. 26 ↗ |
| Loans | Participant Loans—The Plan does not allow participants to borrow from their accounts. | Audit report, p. 27 ↗ |
| Recordkeeper | Milliman, Inc. | Schedule C ↗ |
| Independent auditor | Deloitte & Touche LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 479 defined-contribution plans in retail trade with 1,000 to 4,999 participants.
| Leith: employer contribution per participant | $638 | |
| Peer median | $1,023 |
| Leith: average balance | $50,051 | |
| Peer median | $43,395 |
| Leith: admin expenses ÷ assets | 0.02% | |
| Peer median | 0.23% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $134M at the end of plan year 2021 to $146M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 3,116 | $146M | $1.9M | $638 | 0.02% | Quoted in the audit report, p. 26 ↗ | Form 5500 ↗ |
| 2023 | 2,760 | $130M | $1.8M | $712 | 0.02% | Not published | Form 5500 ↗ |
| 2022 | 2,504 | $109M | $1.8M | $799 | 0.02% | Not published | Form 5500 ↗ |
| 2021 | 2,264 | $134M | $1.7M | $806 | 0.07% | Not published | Form 5500 ↗ |
Common questions
Does Leith match 401(k) contributions?
The audit report attached to the Leith, Inc. 401(k) Profit Sharing Plan's plan year 2024 Form 5500, page 26 says: “The Company, at its discretion, may match participant contributions to the Plan. In 2024, the Company matched 25% of the first 5% of eligible compensation that a participant contributed to the Plan. The Company’s matching contribution for the year ended December 31, 2024, was $1,395,230.” Plan terms may have changed; check your current Summary Plan Description.
When is the Leith 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 27 says: “Vesting—Participants are vested immediately in their contributions, plus actual earnings thereon. Vesting in the Company’s contribution portion of their accounts is based on years of continuous service. A participant is 100% vested after six years of credited service for the discretionary profit-sharing contributions. A participant is 100% vested ratably after six years of credited service for employer-matching contributions. Participants become fully vested at age 65, or upon death, disability, or retirement under the Company’s retirement policy.”
Who manages the Leith 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Milliman, Inc.. The plan administrator is Leith, Inc..
I left Leith. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Leith, Inc., (919) 876-5432) or the recordkeeper, Milliman, Inc.. The Leith old 401(k) page lists the contacts from every plan filing. Find an old Leith 401(k)
Data from the public Form 5500 annual reports Leith filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Leith. Not financial advice. Report a correction · Methodology