Bass Underwriters, Inc. 401(k) Review & Grade
Bass Underwriters, Inc. 401(k) P.S. Plan
Plantation, FLFinance & Insurance592 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,543Employer $ per active participant
$4,634Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$47.0MNet plan assets, end of year
$82,227Average balance per account
Score breakdown
- Employer generosity15.5 / 5031th percentile for employer $ per participant
- Low cost7.7 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving2.9 / 1519th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 31th |
| Lower admin cost | 31th |
| Employee saving | 19th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Bass Underwriters put in about $2,543 per active participant, below the typical peer ($3,606). 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 (0.40% 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 | $1,504,459 |
| Participant (employee) contributions | $2,741,260 |
| Other contributions (incl. rollovers in) | $60,769 |
| Administrative expenses paid from the plan | $168,347 |
| Investment advisory & management fees | $96,201 |
| Benefits paid out | $714,513 |
| Net assets, start / end of year | $38.0M / $47.0M |
| Active participants, start / end of year | 567 / 616 |
| Participants with account balances | 572 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cflg Accountants |
Largest service providers (Schedule C)
| Assetmark Retirement Services, Inc. | $168,347 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250915162729NAL0000816355001, received 2025-09-15, EIN 65-0514182, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.