2 critical issues
Bio-Rad Laboratories, Inc.
94-1381833· Hercules, CA· Charles Schwab· 2024 filing· vs 80 plans your size
C
0/100
Overall grade
Middle of the pack, with clear ways to do better.
B
Fees
A
Financial Wellness
C
Plan design
F
Compliance
Fees
Your plan pays around 4 bps of assets per year. Similar plans pay around 14 bps. Your plan is cheaper than about 86% of similar plans.
cheaper14th percentilepricier
Financial Wellness
Strong savings. Employees put away $11,976/employee a year. That's more than 91% of similar plans.
lower91th percentilehigher
Plan design
The employer contributes through profit sharing rather than a standard match.
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.
Safe harbor not reported
The filing does not establish whether this plan uses a safe harbor design, so it does not affect the grade.
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
2 critical issues on the latest filing. These need attention.
Failed IRS fairness test
The plan failed its annual IRS fairness test and had to refund contributions to higher-paid employees. A safe harbor design eliminates this problem entirely.
Late employee deposits
Employee 401(k) deposits didn't reach the plan on time. The DOL treats this as a prohibited transaction, and it's one of the most common audit triggers. It needs a formal correction, not just a late deposit.
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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Charles Schwab
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Key insights
- Strongest area: financial wellness. Strong savings. Employees put away $11,976/employee a year. That's more than 91% of similar plans.
- Best place to improve: compliance & health. 2 critical issues on the latest filing. These need attention.
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