Learned sparse retrieval (LSR) models exhibit varying trade-offs between effectiveness and efficiency. But while standard tools exist for evaluating LSR effectiveness, there is none for evaluating efficiency. Also, datasets with high-quality relevance judgments are too large for repeated efficiency experiments, e.g., on different hardware configurations. To promote the evaluation of LSR models in terms of their effectiveness and efficiency, we introduce the lsr_benchmark, which measures retrieval efficiency at each step of an LSR pipeline (document embedding, indexing, query embedding, and retrieval) as well as its overall effectiveness. To ensure tractability and extensibility, we apply current corpus subsampling methods to eleven TREC tasks, precompute embeddings with eleven LSR models per task, and evaluate eight retrieval engines as baselines. For the benchmark’s hosted version, a modular API, along with tools for evaluating effectiveness and efficiency, facilitates the submission of new approaches. Our experiments show that the chosen embedding model significantly affects the efficiency of a retrieval engine and that LSR is more effective but less efficient than BM25—an efficiency gap that our benchmark now tracks as new LSR models are published.