Pre-Paid Legal Services, Inc. 401(k) Review & Grade
Pplsi 401(k) Plan · d/b/a Legalshield
Ada, OKProfessional, Scientific & Technical Services600 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,792Employer $ per active participant
$5,575Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$46.0MNet plan assets, end of year
$67,427Average balance per account
Score breakdown
- Employer generosity30.7 / 5061th percentile for employer $ per participant
- Low cost14.8 / 2559th percentile for low admin cost vs. same-size plans
- Employee saving4.1 / 1528th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 59th |
| Employee saving | 28th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $856 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Pre-Paid Legal Services put in about $3,792 per active participant, more than the typical peer ($3,082). 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.
- 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 | $2,273,259 |
| Participant (employee) contributions | $3,342,030 |
| Other contributions (incl. rollovers in) | $209,410 |
| Administrative expenses paid from the plan | $74,694 |
| Contract administrator fees | $27,232 |
| Benefits paid out | $5,863,346 |
| Net assets, start / end of year | $40.8M / $46.0M |
| Active participants, start / end of year | 606 / 593 |
| Participants with account balances | 682 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Schmidtlein & Associates,cpa's, P.A |
Largest service providers (Schedule C)
| Newport Group, Inc. | $57,408 reported compensation |
| Newport Trust Company | $17,286 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014152644NAL0004389024001, received 2025-10-14, EIN 73-1016728, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.