Ark-La-Tex Financial Services, L 401(k) Review & Grade
Ark-La-Tex Financial Services, LLC 401(k) Plan
Plano, TXFinance & Insurance729 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,197Employer $ per active participant
$6,540Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$60.7MNet plan assets, end of year
$67,474Average balance per account
Score breakdown
- Employer generosity5.7 / 5011th percentile for employer $ per participant
- Low cost13.0 / 2552th percentile for low admin cost vs. same-size plans
- Employee saving6.5 / 1543th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 11th |
| Lower admin cost | 52th |
| Employee saving | 43th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $62,454 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ark-La-Tex Financial Services, L put in about $1,197 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.
- 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $872,939 |
| Participant (employee) contributions | $4,767,762 |
| Other contributions (incl. rollovers in) | $835,409 |
| Administrative expenses paid from the plan | $124,638 |
| Investment advisory & management fees | $10,421 |
| Benefits paid out | $8,444,478 |
| Net assets, start / end of year | $55.3M / $60.7M |
| Active participants, start / end of year | 779 / 679 |
| Participants with account balances | 899 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Advisent Assurance, LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $124,637 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014053029NAL0003200864001, received 2025-10-14, EIN 75-2838184, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.