Cross Financial Corporation 401(k) Review & Grade
Cross Retirement Plan
Bangor, MEFinance & Insurance1,154 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,037Employer $ per active participant
$8,285Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$138.9MNet plan assets, end of year
$124,709Average balance per account
Score breakdown
- Employer generosity10.4 / 5021th percentile for employer $ per participant
- Low cost15.4 / 2561th percentile for low admin cost vs. same-size plans
- Employee saving9.5 / 1563th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score25 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 21th |
| Lower admin cost | 61th |
| Employee saving | 63th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $3,029 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Cross Financial put in about $2,037 per active participant, below the typical peer ($3,606). 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 | $2,350,567 |
| Participant (employee) contributions | $9,560,385 |
| Other contributions (incl. rollovers in) | $1,349,753 |
| Administrative expenses paid from the plan | $206,659 |
| Investment advisory & management fees | $62,138 |
| Other admin expenses | $50,164 |
| Benefits paid out | $14,318,331 |
| Net assets, start / end of year | $121.2M / $138.9M |
| Active participants, start / end of year | 1,161 / 1,147 |
| Participants with account balances | 1,114 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdmp Assurance, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $94,357 reported compensation |
| Strategic Advisors, Inc. | $62,138 reported compensation |
| Fiducient Advisors LLC | $50,164 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250708144036NAL0011461730001, received 2025-07-08, EIN 01-0507032, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.