Freedom Forever LLC 401(k) Review & Grade
Freedom Forever LLC 401(k) Plan
Temecula, CAConstruction2,977 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5Employer $ per active participant
$826Employee $ saved per active participant
1.01%Direct admin cost, % of plan assets
$8.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity0.7 / 501th percentile for employer $ per participant
- Low cost1.1 / 254th percentile for low admin cost vs. same-size plans
- Employee saving0.8 / 155th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score3 / 100 · Grade F
This plan vs. peers
Peers: Construction plans with 2,500–9,999 active participants (76 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 1th |
| Lower admin cost | 4th |
| Employee saving | 5th |
| Peers that auto-enroll | 57% |
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Red flags from the filing
Corrective distributions: the plan refunded $235,092 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Freedom Forever put in about $5 per active participant, below the typical peer ($1,965). 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 (1.01% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $14,688 |
| Participant (employee) contributions | $2,460,464 |
| Other contributions (incl. rollovers in) | $452,448 |
| Administrative expenses paid from the plan | $75,580 |
| Contract administrator fees | $64,505 |
| Other admin expenses | $11,075 |
| Benefits paid out | $1,003,029 |
| Net assets, start / end of year | $6.1M / $8.8M |
| Active participants, start / end of year | 2,479 / 3,475 |
| Participants with account balances | 730 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Rji International Cpa's |
Largest service providers (Schedule C)
| John Hancock USA | $4,320 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251017161431NAL0009604784001, received 2025-10-17, EIN 81-3208857, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.