LSP Holdco LLC 401(k) Review & Grade
Legacy Service Partners, LLC 401(k) Plan
Tampa, FLConstruction1,472 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,698Employer $ per active participant
$3,842Employee $ saved per active participant
0.56%Direct admin cost, % of plan assets
$35.2MNet plan assets, end of year
$20,004Average balance per account
Score breakdown
- Employer generosity35.8 / 5072th percentile for employer $ per participant
- Low cost5.0 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving7.2 / 1548th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 72th |
| Lower admin cost | 20th |
| Employee saving | 48th |
| Peers that auto-enroll | 44% |
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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 ($3,870 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $35,254 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- LSP Holdco put in about $2,698 per active participant, more than the typical peer ($1,672). 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.
- Direct plan expenses (0.56% 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 | $3,971,138 |
| Participant (employee) contributions | $5,655,322 |
| Other contributions (incl. rollovers in) | $1,228,196 |
| Administrative expenses paid from the plan | $143,715 |
| Investment advisory & management fees | $63,809 |
| Benefits paid out | $5,901,650 |
| Net assets, start / end of year | $16.6M / $35.2M |
| Active participants, start / end of year | 1,581 / 1,363 |
| Participants with account balances | 1,759 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Empower Life & Annuity Insurance Co | $106,750 reported compensation |
| Onedigital Investment Advisors LLC | $67,150 reported compensation |
| Ellsworth Advisors LLC | $16,491 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260701090908NAL0011323459001, received 2026-07-01, EIN 86-3938599, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.