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Grade My 401(k)
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1 issue

Hunton Andrews Kurth LLP

54-0572269· Richmond, VA· Fidelity· 2024 filing· vs 1,146 plans your size in your industry
A
0/100
Overall grade

Strong plan across the board.

A
Fees
A
Financial Wellness
C
Plan design
B
Compliance
Fees

Your plan pays around 1 bps of assets per year. Similar plans pay around 13 bps. Your plan is cheaper than about 97% of similar plans.

A
cheaper3th percentilepricier
Financial Wellness

Strong savings. Employees put away $16,727/employee a year. That's more than 94% of similar plans.

A
lower94th percentilehigher
Plan design

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

C
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.
Not safe harbor
The plan has to pass annual IRS nondiscrimination testing, which can cap what owners and higher earners are allowed to contribute.
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

1 item to review, nothing critical.

B
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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Key insights

  • Strongest area: fees. Your plan pays around 1 bps of assets per year. Similar plans pay around 13 bps. Your plan is cheaper than about 97% of similar plans.
  • Best place to improve: plan design. The employer contributes through profit sharing rather than a standard match.
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