Bankw Staffing, LLC 401(k) Review & Grade
Bankw Staffing, LLC Retirement Plan
Bedford, NHAdministrative, Support & Staffing Services524 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,152Employer $ per active participant
$2,524Employee $ saved per active participant
0.19%Direct admin cost, % of plan assets
$23.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity32.6 / 5065th percentile for employer $ per participant
- Low cost13.8 / 2555th percentile for low admin cost vs. same-size plans
- Employee saving8.7 / 1558th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score48 / 100 · Grade C
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 500–2,499 active participants (401 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 65th |
| Lower admin cost | 55th |
| Employee saving | 58th |
| Peers that auto-enroll | 27% |
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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 ($8,697 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Bankw Staffing put in about $1,152 per active participant, more than the typical peer ($712). 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 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 | $604,069 |
| Participant (employee) contributions | $1,324,045 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $41,002 |
| Investment advisory & management fees | $5,139 |
| Benefits paid out | $233,018 |
| Net assets, start / end of year | $18.8M / $23.3M |
| Active participants, start / end of year | 166 / 883 |
| Participants with account balances | 163 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Caron & Bletzer,pllc |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $35,863 reported compensation |
| Strategic Advisors, Inc. | $5,139 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015073834NAL0001989091001, received 2025-10-15, EIN 27-4348369, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.