North Carolina › Wholesale trade › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Alex Lee, Inc. and Affiliates Retirement Savings Plan
Sponsored by Alex Lee, Inc., Hickory, NC
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Alex Lee, Inc. of Hickory, North Carolina sponsors Alex Lee, Inc. and Affiliates Retirement Savings Plan, a 401(k) plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 12,714 participants (10,743 active) and $323M in net assets.
Net assets came to $25,417 per participant, well below the $64,499 median for defined contribution plans with 5,000 to 24,999 participants and well below the $65,557 median for defined contribution plans in wholesale trade. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $2.6M during the year, or $245 per active participant against a same-size median of $2,424; participants contributed $26.3M and $1.3M arrived as rollovers and other contributions. Benefits paid out totalled $33.7M.
Schedule C lists 3 service provider organisations paid $5,000 or more, with reported compensation of $752K: $59.19 per participant, above the same-size median of $53.38. Administrative expenses charged to the plan were $751K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $126M in 2009 to $323M in 2024 (up 156%), and participants from 7,575 to 12,714 (up 68%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $25,417 | $64,499 | $65,557 | $53,102 |
| Employer contributions per active participant | $245 | $2,424 | $2,107 | $2,175 |
| Schedule C compensation per participant | $59.19 | $53.38 | $153 | $123 |
| Schedule C compensation, share of net assets | 0.23% | 0.09% | 0.27% | 0.26% |
| Administrative expenses per participant | $59.04 | $54.85 | $147 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 5,000 to 24,999 participants (2,605 plans), wholesale trade (3,526) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 12,714 | $323M | $25,417 | $2.6M | $26.3M | $752K |
| 2023 | 12,604 | $295M | $23,385 | $2.5M | $24.4M | $813K |
| 2022 | 12,406 | $256M | $20,638 | $2.5M | $22.6M | $645K |
| 2021 | 10,017 | $293M | $29,296 | $2.0M | $19.2M | $533K |
| 2020 | 8,096 | $230M | $28,382 | $1.8M | $17.0M | $463K |
| 2019 | 7,542 | $204M | $27,022 | $1.7M | $14.2M | $427K |
| 2018 | 6,470 | $172M | $26,581 | $1.5M | $11.8M | $352K |
| 2017 | 6,545 | $182M | $27,846 | $1.5M | $10.8M | $365K |
| 2016 | 6,461 | $160M | $24,688 | $1.4M | $9.9M | $278K |
| 2015 | 6,665 | $158M | $23,637 | $1.3M | $8.6M | $26K |
| 2014 | 6,494 | $156M | $24,006 | $1.3M | $7.6M | $29K |
| 2013 | 6,799 | $152M | $22,294 | $1.3M | $7.3M | $48K |
| 2012 | 7,067 | $132M | $18,722 | $1.7M | $8.5M | $47K |
| 2011 | 7,952 | $147M | $18,432 | $1.7M | $9.6M | $46K |
| 2010 | 7,592 | $143M | $18,892 | $1.7M | $9.8M | $46K |
| 2009 | 7,575 | $126M | $16,663 | $1.8M | $10.0M | $40K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$294,746,762
- Employer contributions$2,631,206
- Participant contributions$26,273,640
- Rollovers and other contributions$1,327,601
- Total contributions$30,232,447
- Total income, including investment results$62,982,111
- Benefits paid$33,713,257
- Administrative expenses$750,573
- Total expenses$34,578,917
- Net income$28,403,194
- Net transfers$0
- Net assets, end of year$323,149,956
Participants
- Active participants10,743
- Retired or separated, receiving benefits169
- Retired or separated, entitled to future benefits1,767
- Participants with account balances10,322
- Total participants, end of year12,714
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| T Rowe Price RPS Inc. | Recordkeeping and information management; Trustee (bank, trust company, or similar financial institution); Trustee (directed); Investment management; Securities brokerage; Participant loan processing; Participant communication; Other services | $562,846 | $0 |
| Aon | Consulting (general) | $187,724 | $0 |
| Charles Schwab & Co., Inc. | Securities brokerage | $1,915 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Recordkeeping fees$562,846
- Other administrative expenses$187,727
- Total administrative expenses$750,573
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Common/collective trusts$300M · 92.8%
- Other investments$12.2M · 3.8%
- Participant loans$10.3M · 3.2%
- Receivables$795K · 0.2%
- Cash (interest and non-interest bearing)$46K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmRSM US LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement2RParticipant-directed brokerage accounts provided as an investment option under the plan2S401(k) plan or 403(b) plan that provides for automatic enrollment2TTotal or partial participant-directed account plan with a default investment account3DPre-approved pension plan3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 424400: Grocery & Related Products.
Other plans of Alex Lee, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Alex Lee, Inc. and Affiliates Pension Plan | 7,176 | $315M |
Similar plans in North Carolina
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| American Tire Distributors, Inc. Retirement Plan | American Tire Distributors, Inc. | 5,761 | $274M | $47,637 |
| Hanesbrands LLC Retirement Savings Plan | Hanesbrands LLC | 5,436 | $586M | $107,819 |
| Toshiba Tec U.S. Employees' 401(k) Savings Plan | Toshiba Global Commerce Solutions, Inc. | 4,246 | $485M | $114,125 |
| Vallen Distribution, Inc. 401(k) Plan | Vallen Distribution, Inc. | 3,753 | $273M | $72,759 |
| The Cook & Boardman Group, LLC 401(k) Plan | Cook & Boardman Group, LLC | 3,179 | $120M | $37,780 |
| Flow Control Group 401(k) Plan | Ffi Holdings, III Corp. | 2,479 | $218M | $87,777 |
Defined contribution plans in wholesale trade closest in size.
Questions and answers
How big is Alex Lee, Inc. and Affiliates Retirement Savings Plan?
12,714 participants at the end of the plan year ending 31 Dec 2024, of whom 10,743 were active employees, with net assets of $323,149,956. Among defined contribution plans that places it in the 5,000 to 24,999 participants band, which held 2,605 plans in plan year 2024.
What does Alex Lee, Inc. contribute per participant?
The filing reports $2,631,206 in employer contributions for the year, which is $245 per active participant; the median for plans of the same type and size was $2,424 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $752,485 in compensation to service provider organisations, $59.19 per participant or 0.23% of net assets. The same-size median among plans reporting any Schedule C compensation was $53.38 per participant. Administrative expenses on Schedule H were $750,573. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Alex Lee, Inc.. Recordkeeping or administration: T Rowe Price RPS Inc.. Investment advisory or management: T Rowe Price RPS Inc.. Trustee or custodian: T Rowe Price RPS Inc.. The financial statements were audited by RSM US LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 8 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 56-1780605, plan 003, received 8 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.