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Grade My 401(k)
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1 critical issue

Coadvantage Corporation

27-3007025· Bradenton, FL· EMPOWER ANNUITY INSURANCE CO· 2024 filing· vs 10 plans your size
D
0/100
Overall grade

Below average. Several areas need attention.

F
Fees
D
Financial Wellness
A
Plan design
D
Compliance
Fees

Your plan pays around 36 bps of assets per year. Similar plans pay around 8 bps. Your plan is more expensive than about 91% of similar plans.

F
cheaper91th percentilepricier
Financial Wellness

Below-average savings. Employees put away $1,504/employee a year. That's less than 62% of similar plans.

D
lower38th percentilehigher
Plan design

Well-designed. Has the features that matter most.

A
Employer match
The plan matches employee contributions, the single strongest driver of participation and savings.
Profit sharing
The employer also makes profit-sharing contributions on top of the match.
Automatic enrollment
New hires are enrolled by default. Plans with auto-enroll see much higher participation.
Safe harbor
Guaranteed employer contributions exempt the plan from annual IRS testing, so owners and higher earners can contribute the full limit.
Default investment (QDIA)
Employees who never pick investments land in a sensible default, usually a target-date fund, instead of cash.
No brokerage window
Employees can only invest through the plan's core fund menu. A brokerage window opens the wider market for people who want more control.
Compliance & health

1 critical issue on the latest filing. These need attention.

D
Failed IRS fairness test
The plan failed its annual IRS fairness test and had to refund contributions to higher-paid employees. A safe harbor design eliminates this problem entirely.
Fidelity bond below 10% of BOY assets, ERISA 412 violation
The reported ERISA fidelity bond is below the 10%-of-assets guideline based on beginning-of-year assets. Fast-growing plans can look under-bonded on paper; confirm against the plan's current bond coverage.
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EMPOWER ANNUITY INSURANCE CO

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Key insights

  • Strongest area: plan design. Well-designed. Has the features that matter most.
  • Best place to improve: fees. Your plan pays around 36 bps of assets per year. Similar plans pay around 8 bps. Your plan is more expensive than about 91% of similar plans.
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