Challenger School Foundation 401(k) Review & Grade
Challenger School 401k Retirement Plan
Sandy, UTEducational Services964 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$703Employer $ per active participant
$4,618Employee $ saved per active participant
0.19%Direct admin cost, % of plan assets
$66.8MNet plan assets, end of year
$110,583Average balance per account
Score breakdown
- Employer generosity12.9 / 5026th percentile for employer $ per participant
- Low cost14.1 / 2556th percentile for low admin cost vs. same-size plans
- Employee saving11.2 / 1575th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 26th |
| Lower admin cost | 56th |
| Employee saving | 75th |
| Peers that auto-enroll | 37% |
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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
- Challenger School Foundation put in about $703 per active participant, below the typical peer ($1,225). 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.
- 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.
- 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 | $677,519 |
| Participant (employee) contributions | $4,449,088 |
| Other contributions (incl. rollovers in) | $61,192 |
| Administrative expenses paid from the plan | $114,695 |
| Investment advisory & management fees | $60,165 |
| Benefits paid out | $2,347,831 |
| Net assets, start / end of year | $55.6M / $66.8M |
| Active participants, start / end of year | 941 / 986 |
| Participants with account balances | 604 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Richey, May & Co., LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $63,056 reported compensation |
| Soltis Investment Advisors LLC | $38,798 reported compensation |
| Morningstar Inc | $12,841 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250916174104NAL0001310131001, received 2025-09-16, EIN 47-1405971, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.