Global Lending Services LLC 401(k) Review & Grade
Global Lending Services LLC 401(k) Plan
Greenville, SCFinance & Insurance938 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,288Employer $ per active participant
$3,967Employee $ saved per active participant
0.55%Direct admin cost, % of plan assets
$27.1MNet plan assets, end of year
$26,200Average balance per account
Score breakdown
- Employer generosity12.9 / 5026th percentile for employer $ per participant
- Low cost5.0 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving1.9 / 1512th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score20 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 26th |
| Lower admin cost | 20th |
| Employee saving | 12th |
| 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 ($44 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Global Lending Services put in about $2,288 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 (0.55% 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 | $2,147,181 |
| Participant (employee) contributions | $3,723,108 |
| Other contributions (incl. rollovers in) | $100,965 |
| Administrative expenses paid from the plan | $132,641 |
| Investment advisory & management fees | $23,794 |
| Benefits paid out | $3,277,091 |
| Net assets, start / end of year | $21.0M / $27.1M |
| Active participants, start / end of year | 929 / 948 |
| Participants with account balances | 1,034 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $108,847 reported compensation |
| Colton Groome Financial Advisors | $17,000 reported compensation |
| Strategic Advisors, Inc. | $6,794 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250624144043NAL0006961889001, received 2025-06-24, EIN 90-0772739, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.