Carnegie Learning, Inc. 401(k) Review & Grade
Carnegie Learning, Inc. 401(k) Plan
Pittsburgh, PAInformation580 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,063Employer $ per active participant
$6,769Employee $ saved per active participant
0.35%Direct admin cost, % of plan assets
$38.0MNet plan assets, end of year
$74,586Average balance per account
Score breakdown
- Employer generosity9.4 / 5019th percentile for employer $ per participant
- Low cost8.9 / 2535th percentile for low admin cost vs. same-size plans
- Employee saving5.6 / 1537th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 19th |
| Lower admin cost | 35th |
| Employee saving | 37th |
| Peers that auto-enroll | 59% |
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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
- Carnegie Learning put in about $1,063 per active participant, below the typical peer ($2,829). 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 (0.35% 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 | $617,007 |
| Participant (employee) contributions | $3,929,523 |
| Other contributions (incl. rollovers in) | $1,165,392 |
| Administrative expenses paid from the plan | $124,272 |
| Contract administrator fees | $52,413 |
| Investment advisory & management fees | $71,859 |
| Benefits paid out | $5,937,490 |
| Net assets, start / end of year | $33.5M / $38.0M |
| Active participants, start / end of year | 585 / 576 |
| Participants with account balances | 510 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Benefit Audit Group, LLC |
Largest service providers (Schedule C)
| Kestra | $67,879 reported compensation |
| John Hancock | $56,393 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250911093523NAL0000136899001, received 2025-09-11, EIN 25-1805640, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.