CMG Mortgage, Inc. DBA CMG Financial 401(k) Review & Grade
CMG Financial 401(k) Plan
San Ramon, CAFinance & Insurance3,382 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,286Employer $ per active participant
$6,440Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$163.5MNet plan assets, end of year
$63,013Average balance per account
Score breakdown
- Employer generosity3.5 / 507th percentile for employer $ per participant
- Low cost5.8 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving3.6 / 1524th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score13 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 7th |
| Lower admin cost | 23th |
| Employee saving | 24th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $32,395 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- CMG Mortgage, Inc. DBA CMG Financial put in about $1,286 per active participant, below the typical peer ($4,489). 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 (0.30% of assets) are well above similar-size plans (0.12%). 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 | $4,347,528 |
| Participant (employee) contributions | $21,777,469 |
| Other contributions (incl. rollovers in) | $12,770,213 |
| Administrative expenses paid from the plan | $420,856 |
| Investment advisory & management fees | $1,138 |
| Benefits paid out | $16,671,038 |
| Net assets, start / end of year | $120.3M / $163.5M |
| Active participants, start / end of year | 3,015 / 3,748 |
| Participants with account balances | 2,595 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Audit and Tax Solutions Inc |
Largest service providers (Schedule C)
| Empower Annuity Ins. Co. of America | $307,303 reported compensation |
| Empower Advisory Group, LLC | $68,857 reported compensation |
| Leafhouse Financial Advisors,llc | $34,573 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251125123052NAL0001781619001, received 2025-11-25, EIN 68-0309242, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.