Clearwater Solutions, LLC 401(k) Review & Grade
Clearwater Solutions, LLC 401(k) Plan
Greenville, SCOther Services501 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,133Employer $ per active participant
$2,577Employee $ saved per active participant
1.00%Direct admin cost, % of plan assets
$7.2MNet plan assets, end of year
$23,448Average balance per account
Score breakdown
- Employer generosity34.5 / 5069th percentile for employer $ per participant
- Low cost1.6 / 257th percentile for low admin cost vs. same-size plans
- Employee saving7.5 / 1550th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 69th |
| Lower admin cost | 7th |
| Employee saving | 50th |
| Peers that auto-enroll | 40% |
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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 ($21,541 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Clearwater Solutions put in about $2,133 per active participant, more than the typical peer ($1,257). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 (1.00% 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 | $1,068,631 |
| Participant (employee) contributions | $1,290,956 |
| Other contributions (incl. rollovers in) | $56,317 |
| Administrative expenses paid from the plan | $71,270 |
| Contract administrator fees | $66,393 |
| Investment advisory & management fees | $4,877 |
| Benefits paid out | $2,662,820 |
| Net assets, start / end of year | $7.1M / $7.2M |
| Active participants, start / end of year | 586 / 416 |
| Participants with account balances | 308 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Aldridge Borden and Company, PC |
Largest service providers (Schedule C)
| Newport Group, Inc. | $48,740 reported compensation |
| Principal Life Insurance Company | $17,653 reported compensation |
| Creative Planning, LLC | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015154459NAL0002688563001, received 2025-10-15, EIN 20-8152510, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.