Aijj Enterprises, Inc 401(k) Review & Grade
Rainbow Apparel 401(k) Savings Plan
Brooklyn, NYRetail Trade5,964 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$350Employer $ per active participant
$653Employee $ saved per active participant
0.38%Direct admin cost, % of plan assets
$81.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity13.5 / 5027th percentile for employer $ per participant
- Low cost4.3 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving1.3 / 159th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score19 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 27th |
| Lower admin cost | 17th |
| Employee saving | 9th |
| Peers that auto-enroll | 42% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,899 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Aijj Enterprises put in about $350 per active participant, below the typical peer ($650). Any match is still an instant return, so contribute enough to get all of it.
- 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 (0.38% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $2,088,608 |
| Participant (employee) contributions | $3,896,570 |
| Other contributions (incl. rollovers in) | $11,496 |
| Administrative expenses paid from the plan | $291,064 |
| Contract administrator fees | $291,064 |
| Benefits paid out | $4,779,780 |
| Net assets, start / end of year | $71.9M / $81.8M |
| Active participants, start / end of year | 5,925 / 6,004 |
| Participants with account balances | 1,030 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cbiz Cpa's P.C. |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $290,761 reported compensation |
| Pensionmark Financial Group, LLC | $88,631 reported compensation |
| Marcum LLP | $15,165 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013093620NAL0001630176001, received 2025-10-13, EIN 13-3070879, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.