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Basic Capital
1 issue

Water Gremlin Co.

41-0686396· White Bear Township, MN· Ascensus/FuturePlan· 2024 filing· vs 111 plans your size in your industry
B
0/100
Overall grade

Solid plan with a few things to improve.

C
Fees
estimated
–
Financial Wellness
B
Plan design
B
Compliance
Fees
Estimated · fees not public

We estimate 110 bps all-in for a plan this size, covering AUA, per-employee, and admin costs.

C
cheaper50th percentilepricier
Financial Wellness
n/a
Plan design

Well-designed. Has the features that matter most.

B
Employer match
The plan matches employee contributions, the single strongest driver of participation and savings.
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.
No Mega Backdoor Roth
High earners are capped at the standard contribution limit. A Mega Backdoor Roth lets them save well past it with after-tax dollars converted to Roth, and it's one of the most-requested features at competitive companies.
Compliance & health

1 item to review, nothing critical.

B
Fidelity bond below 10% of BOY assets, ERISA 412 violation
The plan's required insurance bond looks smaller than the 10% of assets the law requires. Easy to fix, but a clear gap until it is.
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Ascensus/FuturePlan

No provider notes available.

Key insights

  • Strongest area: compliance & health. 1 item to review, nothing critical.
  • Best place to improve: fees. We estimate 110 bps all-in for a plan this size, covering AUA, per-employee, and admin costs.
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