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Grade My 401(k)
Built by Basic Capital
1 issue

Florim USA, Inc.

62-1433640· Clarksville, TN· Principal· 2024 filing· vs 157 plans your size in your industry
C
0/100
Overall grade

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

D
Fees
C
Financial Wellness
B
Plan design
B
Compliance
Fees

Your plan pays around 67 bps of assets per year. Similar plans pay around 27 bps. Your plan is more expensive than about 85% of similar plans.

D
cheaper85th percentilepricier
Financial Wellness

Middle-of-the-pack savings. Employees put away $3,297/employee a year. That's about average for plans this size.

C
lower48th 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.
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 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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Principal

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Key insights

  • Strongest area: compliance & health. 1 item to review, nothing critical.
  • Best place to improve: fees. Your plan pays around 67 bps of assets per year. Similar plans pay around 27 bps. Your plan is more expensive than about 85% of similar plans.
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