Banker's Toolbox, Inc. 401(k) Review & Grade
Abrigo Employee Savings Plan
Austin, TXProfessional, Scientific & Technical Services600 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,374Employer $ per active participant
$11,897Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$76.5MNet plan assets, end of year
$100,136Average balance per account
Score breakdown
- Employer generosity34.0 / 5068th percentile for employer $ per participant
- Low cost12.8 / 2551th percentile for low admin cost vs. same-size plans
- Employee saving10.9 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score55 / 100 · Grade C
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 68th |
| Lower admin cost | 51th |
| Employee saving | 73th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($79,511 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $32,751 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Banker's Toolbox put in about $4,374 per active participant, more than the typical peer ($3,082). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $2,622,352 |
| Participant (employee) contributions | $7,132,483 |
| Other contributions (incl. rollovers in) | $1,165,001 |
| Administrative expenses paid from the plan | $149,910 |
| Investment advisory & management fees | $75,230 |
| Benefits paid out | $4,506,406 |
| Net assets, start / end of year | $58.8M / $76.5M |
| Active participants, start / end of year | 582 / 617 |
| Participants with account balances | 764 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Armanino LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $74,680 reported compensation |
| Alliant Retirement Services | $60,000 reported compensation |
| Strategic Advisors, Inc. | $15,230 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250918175125NAL0000777011001, received 2025-09-18, EIN 47-4367478, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.