The Liberty Company Insurance Brokers, Inc. 401(k) Review & Grade
The Liberty Company 401(k) Plan
Woodland Hills, CAFinance & Insurance722 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$844Employer $ per active participant
$4,807Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$29.9MNet plan assets, end of year
$56,310Average balance per account
Score breakdown
- Employer generosity4.1 / 508th percentile for employer $ per participant
- Low cost7.7 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving3.1 / 1521th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-13 pts2 issues reported on the filing
Total score2 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 8th |
| Lower admin cost | 31th |
| Employee saving | 21th |
| 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 ($32,884 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $11,556 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Liberty Company Insurance Brokers put in about $844 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 (0.40% 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 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 | $608,932 |
| Participant (employee) contributions | $3,468,193 |
| Other contributions (incl. rollovers in) | $1,855,742 |
| Administrative expenses paid from the plan | $105,886 |
| Investment advisory & management fees | $33,015 |
| Other admin expenses | $45,627 |
| Benefits paid out | $2,123,353 |
| Net assets, start / end of year | $23.3M / $29.9M |
| Active participants, start / end of year | 676 / 767 |
| Participants with account balances | 531 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Smith & Howard |
Largest service providers (Schedule C)
| Advanced Retirement Solutions | $45,724 reported compensation |
| Empower Advisory Group, LLC | $33,015 reported compensation |
| Empower Annuity Insurance Co of Ame | $18,522 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015115245NAL0009073266001, received 2025-10-15, EIN 27-0063026, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.