Cirkul, Inc. 401(k) Review & Grade
Cirkul 401(k) Plan
Tampa, FLManufacturing985 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,144Employer $ per active participant
$1,986Employee $ saved per active participant
0.80%Direct admin cost, % of plan assets
$7.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity10.3 / 5021th percentile for employer $ per participant
- Low cost2.5 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving1.7 / 1511th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score5 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 21th |
| Lower admin cost | 10th |
| Employee saving | 11th |
| Peers that auto-enroll | 59% |
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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 ($103 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $9,892 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Cirkul put in about $1,144 per active participant, below the typical peer ($2,320). 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 (0.80% 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 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 | $1,127,236 |
| Participant (employee) contributions | $1,955,928 |
| Other contributions (incl. rollovers in) | $870,698 |
| Administrative expenses paid from the plan | $44,221 |
| Contract administrator fees | $33,028 |
| Investment advisory & management fees | $11,193 |
| Benefits paid out | $762,181 |
| Net assets, start / end of year | $3.6M / $7.5M |
| Active participants, start / end of year | 980 / 990 |
| Participants with account balances | 363 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Hallowell 401(k) Assurance, LLC |
Largest service providers (Schedule C)
| Stancorp Financial Group | $33,028 reported compensation |
| Schechter Investment Advisors, LLC | $11,193 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009165506NAL0011926768001, received 2025-10-09, EIN 36-4824944, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.