LEGGETT & PLATT INC 401(k): Principal, match 50% of contributions
Leggett & Platt, Incorporated 401(k) Plan and Trust Agreement · LEG · CIK 58492
Principal is the recordkeeper named on the Form 5500 filed for this plan, the company that keeps the account records. Where to log in, and what the filing says.
The 401(k) employer match
Only part of the formula is filed
LEGGETT & PLATT INC discloses only part of its 401(k) match terms: it matches 50% of contributions (matched-pay ceiling not stated in the filing).
From the Form 11-K filed June 18, 2026 ↗, covering the plan year ended December 31, 2025. Page data last updated July 28, 2026, when the Form 5500 bulk data was last refreshed. Why filings lag
On this page: what the employer actually paid in · the formula, word for word · when the money becomes yours · who can join · who holds your account · what the plan reports to the DOL · how it compares · what to do next
What LEGGETT & PLATT puts in, and what the plan costs
What LEGGETT & PLATT put into the plan, per active participant
$1,634
LEGGETT & PLATT INC put $1,634 into this plan for each of its 4,880 active participants in plan year 2024. This is the whole employer side of the plan: matching money, profit sharing, non-elective and safe-harbor contributions, and reallocated forfeitures. The Form 5500 does not separate them, so this is what the employer put in and not the match.
LEGGETT & PLATT put in less per active participant than 91% of plans with 5,000+ participants in medical devices and other manufacturing. The middle plan in that group of 81 reported $4,432. Medical devices and other manufacturing comes from business code 339900, which LEGGETT & PLATT entered on its own Form 5500. Sponsors pick that code themselves, so a code that does not describe what the employer does ranks the plan against the wrong companies.
What this figure cannot separate: how much LEGGETT & PLATT pays, and how much it puts in
This is dollars, not a rate. A Form 5500 carries no payroll, so the figure reflects both how much the employer puts in and how much the employer pays: two plans running the same formula report different amounts when one pays better. Crossing the peer group with industry holds most of that difference still, and none of it disappears.
This is one plan year, not an average. A true-up, a plan merger or a one-off contribution moves a single year on its own.
Source: DOL Form 5500 for the plan year ended December 31, 2024, EIN 440324630, plan 025 · DOL EFAST2 ↗
What LEGGETT & PLATT puts in
Not stated in the filing
Only part of the match formula is disclosed in the filing, so the yearly dollars cannot be computed from it.
The Form 5500 for this plan reports what LEGGETT & PLATT actually paid in: the figure and its peer comparison are above. It is the whole employer side of the plan on one line, so it answers what went in rather than what the formula promises.
Two places state the terms in full: your plan’s Summary Plan Description, which your employer must provide on request, and your recordkeeper’s site, which for this plan is Principal ↗.
What you contribute to collect all of it
Not stated in the filing
The filing does not state the contribution rate that collects the full employer contribution.
Vesting score
57.14 out of 100
How fast the employer’s money becomes yours. Higher than 5% of the 369 schedules we have scored.
It measures vesting speed and nothing else. It says nothing about the size of the match, what the plan charges, or the funds inside it.
Share of the employer's money that is the worker's at hire and at each of the first 6 anniversaries: 0%, 0%, 0%, 100%, 100%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“Participants are always 100% vested in their employee contributions, rollover accounts, and qualified non-elective contributions (QNECs). Company contributions are vested following three years of service with 1,000 hours completed, at which time, they will become 100% vested. Any Company contribution from a prior plan merged into this Plan shall continue to vest in accordance with the vesting schedule set forth in the prior plan. A participant’s entire account balance will become fully vested at normal retirement age or termination due to disability or death. A participant’s non-vested account balance will be forfeited at the time of distribution of the vested account balance. The forfeitures will be used to restore accounts, pay Plan fees and expenses, and offset Company matching contributions and/or Company discretionary matching contributions, as directed by the Plan Administrative Committee. At December 31, 2025 and 2024, forfeited non-vested accounts totaled $10,899 and $19,141, respectively. Also, in 2025 and 2024, Company contributions were offset by $253,830 and $221,496, respectively from forfeited non-vested accounts.”
The wait before the match starts and the year-end true-up appear above when the filing states them. Neither is part of the score, and a filing that is silent on one of them is not a plan without it.
What the plan costs, against plans of its size
64th percentile
$70.09 per participant in plan-paid administrative cost, more expensive than 64% of plans with 5,000+ participants.
What is LEGGETT & PLATT's 401(k) match formula?
LEGGETT & PLATT discloses only part of its 401(k) match terms: it matches 50% of contributions (matched-pay ceiling not stated in the filing). One rate up to one limit is the commonest of the four shapes a match formula takes.
| Match formula | 50% of contributions (matched-pay ceiling not stated in the filing) |
|---|---|
| Conditions | Company contributions, including matching contributions of 50%, are made at the discretion of the employer and in accordance with the Plan; Company discretionary contributions are limited to 6% of eligible employee compensation. Catch up contributions are not eligible for a Company matching contribution. Under the Retirement K provision, certain participants who previously participated in the L&P Retirement Plan (frozen in 2006) or the Hanes Pension Plan (frozen in 2024) receive employer matching contributions ranging from 20% to 80% based on their age at the time the plans froze, limited to 6% of eligible employee compensation. |
| Other employer contribution | Company discretionary contributions, generally made in the first quarter of the following year, allocated based on each participant's eligible contributions in proportion to total eligible employee contributions or based on each participant's total pay, limited to 6% of eligible employee compensation |
What the filing says, word for word
“Company contributions, including eligible matching contributions of 50%, are made at the discretion of the employer and in accordance with the Plan. Except as otherwise disclosed in Schedule H, line 4a, participant and matching Company contributions are remitted within the required timeline, and Company discretionary contributions are generally made in the first quarter of the following year. Company discretionary contributions will be allocated based on each participant’s eligible contributions in proportion to total eligible employee contributions or based on each participant’s total pay and are limited to 6% of eligible employee compensation.”
Source: Form 11-K filed June 18, 2026, SEC EDGAR, corroborated by the filing's inline-XBRL facts · SEC ↗
What is LEGGETT & PLATT's 401(k) vesting schedule?
LEGGETT & PLATT vests the employer match on a cliff schedule: nothing is yours until three years of service, then 100% at once. Leave a day early and the employer money goes back to the plan, the edge a three-year cliff creates.
| Employer match vesting | Cliff: 100% vested after 3 years of service |
|---|---|
| Your own contributions | Immediate: always 100% yours |
| Year of service | Three years of service with 1,000 hours completed; Company contributions from a prior plan merged into the Plan continue to vest under the prior plan's schedule |
| Accelerated vesting | A participant's entire account balance becomes fully vested at normal retirement age or termination due to disability or death; in the event of Plan termination, participants who have not yet incurred five consecutive Breaks in Service or received a distribution become 100% vested |
| Other employer contributions | Company discretionary contributions vest on the same three-year schedule; participants are always 100% vested in qualified non-elective contributions (QNECs) |
Vesting, word for word
“Participants are always 100% vested in their employee contributions, rollover accounts, and qualified non-elective contributions (QNECs). Company contributions are vested following three years of service with 1,000 hours completed, at which time, they will become 100% vested. Any Company contribution from a prior plan merged into this Plan shall continue to vest in accordance with the vesting schedule set forth in the prior plan. A participant’s entire account balance will become fully vested at normal retirement age or termination due to disability or death. A participant’s non-vested account balance will be forfeited at the time of distribution of the vested account balance. The forfeitures will be used to restore accounts, pay Plan fees and expenses, and offset Company matching contributions and/or Company discretionary matching contributions, as directed by the Plan Administrative Committee. At December 31, 2025 and 2024, forfeited non-vested accounts totaled $10,899 and $19,141, respectively. Also, in 2025 and 2024, Company contributions were offset by $253,830 and $221,496, respectively from forfeited non-vested accounts.”
Source: Form 11-K filed June 18, 2026, SEC EDGAR · SEC ↗
Who can join LEGGETT & PLATT's 401(k), and is enrollment automatic?
LEGGETT & PLATT enrolls new hires automatically at 1% of pay, rising 1% a year to 6% of pay.
| Plan entry | Most Company employees who work in the United States of America who have completed 90 days of service or belong to a union that has negotiated inclusion into the Plan; eligible employees may participate beginning on January, April, July, and October 1 after meeting eligibility requirements or on any special entry date according to the Plan |
|---|---|
| Automatic enrollment | Yes: default deferral 1% of pay; auto-escalation +1%/yr to 6% |
Eligibility, word for word
“Most of the Company's employees who work in the United States of America who have completed 90 days of service or belong to a union that has negotiated inclusion into the Plan are considered eligible for participation. If a previously ineligible employee changes employment status and, as a result, meets the above criteria, the employee may generally participate in the Plan as soon as administratively reasonable. Eligible employees may participate beginning on January, April, July, and October 1 after meeting eligibility requirements or on any special entry date according to the Plan.”
Automatic enrollment, word for word
“Prior to April 15, 2026, eligible employees who were not participating were enrolled at 1% with pre-tax contributions. Employees who were contributing less than 6% had their contributions increased by 1% annually until they were contributing 6%. Employees could opt out of the automatic increases annually or change their contribution percentage at any time. Effective April 15, 2026, the Plan was amended to discontinue these automatic enrollment and annual increase provisions.”
Source: Form 11-K filed June 18, 2026, SEC EDGAR · SEC ↗
Who holds your account
Schedule C of the Form 5500 filed for plan year 2024 reports Principal, filed as “PRINCIPAL LIFE INSURANCE COMPANY”. That is the company paid to keep the account records: what is in an account, what went into it, and usually the site a participant signs in to. The trustee that holds the plan’s assets can be a different company, and this filing does not name it.
5,239 plans on file name Principal as their recordkeeper. Of those, the 5,230 with a computable fee have a median plan-paid cost of $170.05 per participant.
Participants log in at Principal ↗. 401(k) Monitor is not affiliated with Principal or with any other recordkeeper, and takes nothing for this link. It is here because that is where the account is.
| Recordkeeper | Principal |
|---|---|
| Recordkeeper EIN | 420127290 |
What does the LEGGETT & PLATT plan report on Form 5500?
The LEGGETT & PLATT plan reported $374.5M in assets and 7,025 participants for plan year 2024.
| Total plan assets | $374,500,240 |
|---|---|
| Participants | 7,025 |
| Plan-paid admin cost per participant | $70.09 |
How that cost compares
This plan pays $70.09 per participant. The median across plans in medical devices and other manufacturing is $125.72, from the 1,386 of 1,455 whose Form 5500 yields a per-participant cost.
How does LEGGETT & PLATT's 401(k) match compare?
LEGGETT & PLATT INC's filing does not state a maximum 401(k) match as a share of pay. Across the 269 companies in our data that do, the median is 4% of pay.
Employers worth reading next
Of the six employers below, three file in medical devices and other manufacturing, two report the same recordkeeper and one vests on the same schedule.
Employer match vests immediately. Also in medical devices and other manufacturing.
Employer match vests immediately. Also in medical devices and other manufacturing.
Maximum match 7% of pay. Also in medical devices and other manufacturing.
Match vests in steps, 100% after 5 years. Same recordkeeper, Principal.
Employer match vests immediately. Same recordkeeper, Principal.
Maximum match 6% of pay. Same 3-year cliff as LEGGETT & PLATT.
What can you do next?
- Read the Form 11-K on SEC EDGAR ↗
Form 11-K filed June 18, 2026, SEC EDGAR. Every match fact on this page comes from it.
- Changed jobs? Find an old 401(k) ↗
The Department of Labor's Retirement Savings Lost & Found, a free government database.
- This year's IRS contribution limits ↗
The official deferral and catch-up limits every formula operates under.
Questions this filing answers
What is LEGGETT & PLATT INC's 401(k) match?
Leggett & Platt, Incorporated discloses only part of its match terms in the 11-K for the plan year ended December 31, 2025. LEGGETT & PLATT INC's Form 5500 for plan year 2024 reports $1,634 of employer money per active participant. This is the whole employer side of the plan: matching money, profit sharing, non-elective and safe-harbor contributions, and reallocated forfeitures. The Form 5500 does not separate them, so this is what the employer put in and not the match.
When does the LEGGETT & PLATT INC 401(k) match vest?
Cliff: 100% vested after 3 years of service.
Does LEGGETT & PLATT INC's 401(k) plan have automatic enrollment?
Yes: default deferral 1% of pay; auto-escalation +1%/yr to 6%.
Who is the recordkeeper for LEGGETT & PLATT INC's 401(k)?
Principal is named as the recordkeeper on the Form 5500 filed for Leggett & Platt, Incorporated 401(k) Plan And Trust Agreement for plan year 2024. That is the company paid to keep the account records: what is in an account, what went into it, and usually the site a participant signs in to.
Source
The match formula, the vesting schedule and the enrollment rules on this page were read from one document: the Form 11-K annual report that LEGGETT & PLATT INC filed with the US Securities and Exchange Commission for the plan year ended December 31, 2025. Each of those fields carries the filing sentence it was read from, expandable where the field appears. Nothing on this page was supplied by the employer to this site.
The plan assets, the participant counts, the plan-paid fees and the recordkeeper come from a different document, the plan’s DOL Form 5500 annual return, and the section that reports them links it. Comparisons with other employers are computed across the filings named in the section they appear in.
Read the filing on SEC EDGAR ↗
| Document | Form 11-K annual report |
|---|---|
| Filed with | US Securities and Exchange Commission (EDGAR) |
| Filed by | LEGGETT & PLATT INC |
| SEC CIK | 58492 |
| Accession number | 0000058492-26-000345 |
| Plan | Leggett & Platt, Incorporated 401(k) Plan and Trust Agreement |
| Period of report | December 31, 2025 |
| Filed | June 18, 2026 |
401(k) Monitor is not affiliated with LEGGETT & PLATT INC, with the Securities and Exchange Commission or with this plan’s recordkeeper, and publishes this page without their involvement. It republishes a public filing and says where it came from.
Cite this page
401(k) Monitor, “LEGGETT & PLATT INC 401(k) plan facts”, from SEC Form 11-K accession 0000058492-26-000345, plan year ended December 31, 2025.
