Challenge Unlimited Inc. 401(k) Review & Grade
Challenge Unlimited 401(k) Plan
Alton, ILHealth Care & Social Assistance578 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$481Employer $ per active participant
$1,112Employee $ saved per active participant
0.72%Direct admin cost, % of plan assets
$4.9MNet plan assets, end of year
$16,341Average balance per account
Score breakdown
- Employer generosity17.1 / 5034th percentile for employer $ per participant
- Low cost3.0 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving3.7 / 1524th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 34th |
| Lower admin cost | 12th |
| Employee saving | 24th |
| Peers that auto-enroll | 36% |
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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
- Challenge Unlimited put in about $481 per active participant, below the typical peer ($976). 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 (0.72% 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.
- 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 | $278,078 |
| Participant (employee) contributions | $643,047 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $33,737 |
| Contract administrator fees | $33,737 |
| Benefits paid out | $960,323 |
| Net assets, start / end of year | $4.4M / $4.9M |
| Active participants, start / end of year | 550 / 607 |
| Participants with account balances | 298 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pension Assurance LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $16,464 reported compensation |
| Krilogy Financial LLC | $14,249 reported compensation |
| Benefit Plans Plus | $7,229 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250731104139NAL0005136145001, received 2025-07-31, EIN 37-0805566, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.