Amerilife US, LLC 401(k) Review & Grade
Independent Administrative Services, L.L.C. 401(k) Plan
Clearwater, FLFinance & Insurance2,306 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,006Employer $ per active participant
$5,497Employee $ saved per active participant
0.49%Direct admin cost, % of plan assets
$101.7MNet plan assets, end of year
$42,895Average balance per account
Score breakdown
- Employer generosity10.2 / 5020th percentile for employer $ per participant
- Low cost6.0 / 2524th percentile for low admin cost vs. same-size plans
- Employee saving4.4 / 1529th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 24th |
| Employee saving | 29th |
| Peers that auto-enroll | 62% |
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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 ($1,140 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $2,228 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Amerilife US put in about $2,006 per active participant, below the typical peer ($3,606). 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.
- Direct plan expenses (0.49% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $4,626,232 |
| Participant (employee) contributions | $12,675,775 |
| Other contributions (incl. rollovers in) | $6,454,960 |
| Administrative expenses paid from the plan | $439,494 |
| Contract administrator fees | $439,494 |
| Benefits paid out | $11,226,061 |
| Net assets, start / end of year | $78.0M / $101.7M |
| Active participants, start / end of year | 2,221 / 2,391 |
| Participants with account balances | 2,371 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $439,494 reported compensation |
| Steward Partners Investment Adv LLC | $198,095 reported compensation |
| Wilshire Advisors LLC | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015092553NAL0002166691001, received 2025-10-15, EIN 51-0431043, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.