LL Services Parent, LLC 401(k) Review & Grade
Covius 401(k) Plan
Glendale, COFinance & Insurance997 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,026Employer $ per active participant
$4,506Employee $ saved per active participant
0.39%Direct admin cost, % of plan assets
$49.3MNet plan assets, end of year
$41,174Average balance per account
Score breakdown
- Employer generosity10.2 / 5020th percentile for employer $ per participant
- Low cost7.8 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving2.6 / 1517th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score28 / 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 | 31th |
| Employee saving | 17th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $23,150 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- LL Services Parent put in about $2,026 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 (0.39% 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.
- 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 | $2,019,724 |
| Participant (employee) contributions | $4,492,912 |
| Other contributions (incl. rollovers in) | $133,760 |
| Administrative expenses paid from the plan | $178,748 |
| Contract administrator fees | $163,638 |
| Other admin expenses | $15,110 |
| Benefits paid out | $3,729,758 |
| Net assets, start / end of year | $41.4M / $49.3M |
| Active participants, start / end of year | 994 / 1,000 |
| Participants with account balances | 1,198 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wipfli LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $163,588 reported compensation |
| Cbiz Benefits & Insurance Services | $15,110 reported compensation |
| Empower Annuity Insurance Company O | $50 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250909133311NAL0020297425001, received 2025-09-09, EIN 62-1796508, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.