Access Cig 401(k) Review & Grade
Access Cig, LLC 401(k) Profit Sharing Plan
Peabody, MATransportation & Warehousing1,314 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,032Employer $ per active participant
$4,980Employee $ saved per active participant
0.37%Direct admin cost, % of plan assets
$66.6MNet plan assets, end of year
$44,735Average balance per account
Score breakdown
- Employer generosity36.2 / 5072th percentile for employer $ per participant
- Low cost8.2 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving11.2 / 1574th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score63 / 100 · Grade B
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 72th |
| Lower admin cost | 33th |
| Employee saving | 74th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,629 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Access Cig put in about $2,032 per active participant, more than the typical peer ($1,070). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.37% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $2,669,666 |
| Participant (employee) contributions | $6,540,606 |
| Other contributions (incl. rollovers in) | $896,208 |
| Administrative expenses paid from the plan | $225,998 |
| Investment advisory & management fees | $87,522 |
| Benefits paid out | $5,263,766 |
| Net assets, start / end of year | $54.5M / $66.6M |
| Active participants, start / end of year | 1,320 / 1,307 |
| Participants with account balances | 1,489 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $138,476 reported compensation |
| Kestra Advisory Services LLC | $54,991 reported compensation |
| Empower Advisory Group, LLC | $32,531 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001103216NAL0014103648001, received 2025-10-01, EIN 20-0673169, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.