Lemek, LLC DBA Panera Bread 401(k) match, vesting and fees
What Lemek, LLC DBA Panera Bread's 401(k) plan says about matching contributions
For the year ended December 31, 2024, the Company made matching contributions equal to 25% of employee contributions up to 6% of the employee's eligible compensation.
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. 28 ↗ |
| Match 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 five years of credited service. | Audit report, p. 28 ↗ |
| Loans | Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their account balance. The loans are secured by the balance in the participant's account. The interest rates on outstanding participant loans range from 5.25% to 10.50%. | Audit report, p. 29 ↗ |
| Recordkeeper | Nwps | Schedule C ↗ |
| Independent auditor | Cohnreznick 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 1,100 defined-contribution plans in accommodation and food services with 100 to 499 participants.
| Lemek, LLC DBA Panera Bread: employer contribution per participant | $1,160 | |
| Peer median | $935 |
| Lemek, LLC DBA Panera Bread: average balance | $83,093 | |
| Peer median | $24,052 |
| Lemek, LLC DBA Panera Bread: admin expenses ÷ assets | 0.13% | |
| Peer median | 0.61% |
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 $10.5M at the end of plan year 2021 to $11.7M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 962 | $11.7M | $164K | $1,160 | 0.13% | Quoted in the audit report, p. 28 ↗ | Form 5500 ↗ |
| 2023 | 919 | $10.1M | $163K | $1,133 | 0.17% | Not published | Form 5500 ↗ |
| 2022 | 843 | $8.8M | $161K | $971 | 0.16% | Not published | Form 5500 ↗ |
| 2021 | 859 | $10.5M | $160K | $900 | 0.13% | Not published | Form 5500 ↗ |
Common questions
Does Lemek, LLC DBA Panera Bread match 401(k) contributions?
The audit report attached to the Lemek, LLC DBA Panera Bread 401(k) Profit Sharing Plan's plan year 2024 Form 5500, page 28 says: “For the year ended December 31, 2024, the Company made matching contributions equal to 25% of employee contributions up to 6% of the employee's eligible compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Lemek, LLC DBA Panera Bread 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 28 says: “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 five years of credited service.”
Who manages the Lemek, LLC DBA Panera Bread 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Nwps. The plan administrator is Lemek, LLC DBA Panera Bread.
I left Lemek, LLC DBA Panera Bread. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Lemek, LLC DBA Panera Bread, (443) 552-0700) or the recordkeeper, Nwps. The Lemek, LLC DBA Panera Bread old 401(k) page lists the contacts from every plan filing. Find an old Lemek, LLC DBA Panera Bread 401(k)
Data from the public Form 5500 annual reports Lemek, LLC DBA Panera Bread 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 Lemek, LLC DBA Panera Bread. Not financial advice. Report a correction · Methodology