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Grade My 401(k)
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2 critical issues

William Blair & Company, LLC

36-2214610· Chicago, IL· Charles Schwab· 2025 filing· vs 129 plans your size in your industry
C
0/100
Overall grade

Middle of the pack, with clear ways to do better.

B
Fees
A
Financial Wellness
B
Plan design
F
Compliance
Fees

Your plan pays around 3 bps of assets per year. Similar plans pay around 5 bps. Your plan is a bit cheaper than most similar plans.

B
cheaper30th percentilepricier
Financial Wellness

Strong savings. Employees put away $25,820/employee a year. That's more than 98% of similar plans.

A
lower98th percentilehigher
Plan design

The employer contributes through profit sharing rather than a standard match.

B
Employer contributes via profit sharing
No standard match, but the employer puts money in through profit sharing. Often a flat percentage to everyone, which works like a match for employees.
Automatic enrollment
New hires are enrolled by default. Plans with auto-enroll see much higher participation.
Safe harbor not reported
The filing does not establish whether this plan uses a safe harbor design, so it does not affect the grade.
Default investment (QDIA)
Employees who never pick investments land in a sensible default, usually a target-date fund, instead of cash.
Brokerage window
Employees can invest beyond the core fund menu through a self-directed brokerage account.
Compliance & health

2 critical issues on the latest filing. These need attention.

F
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.
Late employee deposits
Employee 401(k) deposits didn't reach the plan on time. The DOL treats this as a prohibited transaction, and it's one of the most common audit triggers. It needs a formal correction, not just a late deposit.
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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Charles Schwab

No provider notes available.

Key insights

  • Strongest area: financial wellness. Strong savings. Employees put away $25,820/employee a year. That's more than 98% of similar plans.
  • Best place to improve: compliance & health. 2 critical issues on the latest filing. These need attention.
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