Houlihan Lokey 401(k) Review & Grade
Houlihan Lokey Retirement Savings Plan
Los Angeles, CAFinance & Insurance1,658 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,400Employer $ per active participant
$17,801Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$396.4MNet plan assets, end of year
$147,374Average balance per account
Score breakdown
- Employer generosity14.1 / 5028th percentile for employer $ per participant
- Low cost21.0 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving14.2 / 1594th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 28th |
| Lower admin cost | 84th |
| Employee saving | 94th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,189 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Houlihan Lokey put in about $2,400 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 | $3,980,810 |
| Participant (employee) contributions | $29,523,670 |
| Other contributions (incl. rollovers in) | $4,822,528 |
| Administrative expenses paid from the plan | $218,605 |
| Investment advisory & management fees | $41,041 |
| Benefits paid out | $19,528,655 |
| Net assets, start / end of year | $324.8M / $396.4M |
| Active participants, start / end of year | 1,669 / 1,648 |
| Participants with account balances | 2,690 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $177,614 reported compensation |
| Bfsg LLC | $23,868 reported compensation |
| TLG Advisors Inc | $15,602 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251107102327NAL0000743601001, received 2025-11-07, EIN 95-2770395, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.