1st LLC 401(k) Review & Grade
1st LLC 401(k) Plan
Arts, Entertainment & Recreation2,154 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$671Employer $ per active participant
$2,262Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$76.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity18.8 / 5038th percentile for employer $ per participant
- Low cost22.5 / 2590th percentile for low admin cost vs. same-size plans
- Employee saving7.2 / 1548th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 38th |
| Lower admin cost | 90th |
| Employee saving | 48th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($2,881,589 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $171,219 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- 1st put in about $671 per active participant, below the typical peer ($995). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $1,444,855 |
| Participant (employee) contributions | $4,872,570 |
| Other contributions (incl. rollovers in) | $236,974 |
| Administrative expenses paid from the plan | $30,056 |
| Contract administrator fees | $30,056 |
| Benefits paid out | $6,341,605 |
| Net assets, start / end of year | $69.0M / $76.8M |
| Active participants, start / end of year | 2,133 / 2,175 |
| Participants with account balances | 907 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $30,056 reported compensation |
| Wilshire Advisors LLC | $0 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260309114734NAL0002435027001, received 2026-03-09, EIN 93-4623614, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.