Lifemd, Inc401(k)
LIFEMD, INC 401(K) PLAN · NEW YORK, NY · plan year 2024
Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works
Lifemd, Inc reported $49,585 in plan administrative expenses for 2024: 1.34% of average plan assets, higher than ~90% of peers. Employer contributions averaged $2,643 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio fell from 1.65% to 1.34%. The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other retail trade employers. By assets it is among the smaller plans on file in New York (4,536th of 5,648), and 3,849th of 5,215 in retail trade. In 2024, employees put in $1.83 for every $1.00 the employer contributed; active participation has grown from 179 to 242 since 2022.
Lifemd, Inc's 2024 employer contribution ran above the $1,313 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
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Source: U.S. Department of Labor, Form 5500 series, EIN 760238453 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.