Library Systems & Service, LLC 401(k) Review & Grade
Lssi, LLC 401(k) Plan
Rockville, MDInformation768 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$192Employer $ per active participant
$2,538Employee $ saved per active participant
0.70%Direct admin cost, % of plan assets
$18.1MNet plan assets, end of year
$19,420Average balance per account
Score breakdown
- Employer generosity4.7 / 509th percentile for employer $ per participant
- Low cost3.2 / 2513th percentile for low admin cost vs. same-size plans
- Employee saving1.3 / 158th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score19 / 100 · Grade F
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 9th |
| Lower admin cost | 13th |
| Employee saving | 8th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Library Systems & Service put in about $192 per active participant, below the typical peer ($2,829). 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 (0.70% 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 | $147,319 |
| Participant (employee) contributions | $1,949,140 |
| Other contributions (incl. rollovers in) | $3,245 |
| Administrative expenses paid from the plan | $124,398 |
| Investment advisory & management fees | $38,212 |
| Benefits paid out | $3,208,380 |
| Net assets, start / end of year | $17.3M / $18.1M |
| Active participants, start / end of year | 800 / 736 |
| Participants with account balances | 932 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cohnreznick LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $86,186 reported compensation |
| CFG Asset Management LLC | $34,879 reported compensation |
| Empower Advisory Group, LLC | $3,333 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015112434NAL0002211507001, received 2025-10-15, EIN 52-2003416, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.