Lower, Llc000000000 401(k) Review & Grade
Lower LLC 401(k) Retirement Plan
Columbia, MDFinance & Insurance867 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$476Employer $ per active participant
$5,328Employee $ saved per active participant
0.74%Direct admin cost, % of plan assets
$48.0MNet plan assets, end of year
$42,036Average balance per account
Score breakdown
- Employer generosity2.7 / 505th percentile for employer $ per participant
- Low cost2.9 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving4.1 / 1527th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score7 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 5th |
| Lower admin cost | 12th |
| Employee saving | 27th |
| 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 ($1,075 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $397 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lower, Llc000000000 put in about $476 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 (0.74% 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 | $412,906 |
| Participant (employee) contributions | $4,618,986 |
| Other contributions (incl. rollovers in) | $2,626,724 |
| Administrative expenses paid from the plan | $290,429 |
| Contract administrator fees | $290,429 |
| Benefits paid out | $10,599,163 |
| Net assets, start / end of year | $30.6M / $48.0M |
| Active participants, start / end of year | 753 / 981 |
| Participants with account balances | 1,143 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Richey May & Co., LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $290,428 reported compensation |
| Wells Fargo Advisors Ins Agency LLC | $65,558 reported compensation |
| Wells Fargo Clearing Services LLC | $19,083 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009073055NAL0014921954001, received 2025-10-09, EIN 46-3689142, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.