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Grade My 401(k)
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1 issue

Blue Cross and Blue Shield of North Carolina

56-0894904· Durham, NC· Fidelity· 2024 filing· vs 117 plans your size in your industry
B
0/100
Overall grade

Solid plan with a few things to improve.

C
Fees
B
Financial Wellness
B
Plan design
B
Compliance
Fees

Your plan pays around 5 bps of assets per year. Similar plans pay around 5 bps. Your plan is about average for plans this size.

C
cheaper47th percentilepricier
Financial Wellness

Middle-of-the-pack savings. Employees put away $10,099/employee a year. That's about average for plans this size.

B
lower73th percentilehigher
Plan design

Covers the basics. A few high-impact features are missing.

B
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.
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: plan design. Covers the basics. A few high-impact features are missing.
  • Best place to improve: fees. Your plan pays around 5 bps of assets per year. Similar plans pay around 5 bps. Your plan is about average for plans this size.
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