Laz Karp Associates, LLC 401(k) Review & Grade
Laz Karp Associates, LLC 401(k) Plan
Hartford, CTOther Services7,312 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$393Employer $ per active participant
$1,520Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$90.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity12.2 / 5024th percentile for employer $ per participant
- Low cost6.5 / 2526th percentile for low admin cost vs. same-size plans
- Employee saving5.1 / 1534th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score24 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 2,500–9,999 active participants (42 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 26th |
| Employee saving | 34th |
| Peers that auto-enroll | 45% |
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Red flags from the filing
Corrective distributions: the plan refunded $274,135 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Laz Karp Associates put in about $393 per active participant, below the typical peer ($1,132). 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 (0.27% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $2,871,881 |
| Participant (employee) contributions | $11,115,090 |
| Other contributions (incl. rollovers in) | $704,126 |
| Administrative expenses paid from the plan | $216,730 |
| Investment advisory & management fees | $105,777 |
| Benefits paid out | $6,889,578 |
| Net assets, start / end of year | $72.6M / $90.7M |
| Active participants, start / end of year | 7,823 / 6,802 |
| Participants with account balances | 2,674 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohnreznick LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $110,953 reported compensation |
| RBC | $105,777 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250912050635NAL0002932930001, received 2025-09-12, EIN 26-1164708, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.