Republic Finance, LLC 401(k) Review & Grade
Republic Finance, LLC 401(k) Plan
Baton Rouge, LAFinance & Insurance1,414 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,748Employer $ per active participant
$4,041Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$50.3MNet plan assets, end of year
$33,406Average balance per account
Score breakdown
- Employer generosity9.0 / 5018th percentile for employer $ per participant
- Low cost9.2 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving2.0 / 1514th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 18th |
| Lower admin cost | 37th |
| Employee saving | 14th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $70,867 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Republic Finance put in about $1,748 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.
- 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.
- 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 | $2,471,479 |
| Participant (employee) contributions | $5,713,904 |
| Other contributions (incl. rollovers in) | $551,893 |
| Administrative expenses paid from the plan | $155,293 |
| Contract administrator fees | $155,293 |
| Benefits paid out | $8,236,049 |
| Net assets, start / end of year | $43.4M / $50.3M |
| Active participants, start / end of year | 1,458 / 1,370 |
| Participants with account balances | 1,507 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eisneramper LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $155,292 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014131041NAL0006097922001, received 2025-10-14, EIN 72-0577012, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.