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Grade My 401(k)
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1 issue

Industrial Technologies and Services, LLC

76-0419383· Davidson, NC· Fidelity· 2024 filing· vs 43 plans your size
B
0/100
Overall grade

Solid plan with a few things to improve.

B
Fees
B
Financial Wellness
D
Plan design
B
Compliance
Fees

Your plan pays around 4 bps of assets per year. Similar plans pay around 12 bps. Your plan is cheaper than about 80% of similar plans.

B
cheaper20th percentilepricier
Financial Wellness

Strong savings. Employees put away $8,408/employee a year. That's more than 78% of similar plans.

B
lower78th percentilehigher
Plan design

Good base, but no automatic enrollment. That's the top thing to add.

D
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.
No automatic enrollment
Employees have to opt in themselves. Auto-enrollment is the easiest way to lift participation, and most newly started plans are now required to include it.
Safe harbor
Guaranteed employer contributions exempt the plan from annual IRS testing, so owners and higher earners can contribute the full limit.
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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No provider notes available.

Key insights

  • Strongest area: compliance & health. 1 item to review, nothing critical.
  • Best place to improve: plan design. Good base, but no automatic enrollment. That's the top thing to add.
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