Elevation Services Holdings II, LLC 401(k) Review & Grade
Aeg Merit Holding Company 401(k) Plan
New York, NYOther Services644 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,919Employer $ per active participant
$6,001Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$52.0MNet plan assets, end of year
$92,708Average balance per account
Score breakdown
- Employer generosity45.2 / 5090th percentile for employer $ per participant
- Low cost10.4 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving12.2 / 1581th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 90th |
| Lower admin cost | 42th |
| Employee saving | 81th |
| Peers that auto-enroll | 40% |
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Red flags from the filing
Corrective distributions: the plan refunded $5,027 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Elevation Services Holdings II put in about $4,919 per active participant, more than the typical peer ($1,257). 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.
- 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 | $3,167,674 |
| Participant (employee) contributions | $3,864,912 |
| Other contributions (incl. rollovers in) | $277,605 |
| Administrative expenses paid from the plan | $142,976 |
| Contract administrator fees | $142,976 |
| Benefits paid out | $5,133,954 |
| Net assets, start / end of year | $46.6M / $52.0M |
| Active participants, start / end of year | 669 / 619 |
| Participants with account balances | 561 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Harding Shymanski & Co P.S.C |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $117,508 reported compensation |
| Kestra Advisory Services, LLC | $68,458 reported compensation |
| Retirement Management Services, LLC | $29,466 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013150034NAL0002248048002, received 2025-10-13, EIN 85-1154051, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.