Legence Holdings LLC 401(k) Review & Grade
Legence 401(k) Plan
San Jose, CAConstruction2,534 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,872Employer $ per active participant
$7,855Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$216.8MNet plan assets, end of year
$85,498Average balance per account
Score breakdown
- Employer generosity36.0 / 5072th percentile for employer $ per participant
- Low cost23.5 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving11.6 / 1577th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Construction plans with 2,500–9,999 active participants (76 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 72th |
| Lower admin cost | 94th |
| Employee saving | 77th |
| Peers that auto-enroll | 57% |
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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 ($82,530 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $5,075 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Legence Holdings put in about $3,872 per active participant, more than the typical peer ($1,965). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- 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 | $9,808,673 |
| Participant (employee) contributions | $19,900,685 |
| Other contributions (incl. rollovers in) | $53,849,763 |
| Administrative expenses paid from the plan | $36,199 |
| Investment advisory & management fees | $12,344 |
| Benefits paid out | $9,627,105 |
| Net assets, start / end of year | $121.8M / $216.8M |
| Active participants, start / end of year | 2,464 / 2,603 |
| Participants with account balances | 2,536 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Plante & Moran PLLC |
Largest service providers (Schedule C)
| Adp, Inc. | $36,198 reported compensation |
| Charles Schwab Investment Mgmt Inc. | $40 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014055446NAL0003251744001, received 2025-10-14, EIN 85-4033009, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.