Distinctive Schools 401(k) Review & Grade
Distinctive Schools 403(b) Plan
Chicago, ILEducational Services657 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$744Employer $ per active participant
$1,336Employee $ saved per active participant
0.96%Direct admin cost, % of plan assets
$7.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity14.0 / 5028th percentile for employer $ per participant
- Low cost1.7 / 257th percentile for low admin cost vs. same-size plans
- Employee saving2.5 / 1517th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score11 / 100 · Grade F
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 28th |
| Lower admin cost | 7th |
| Employee saving | 17th |
| Peers that auto-enroll | 37% |
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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 ($1,684,423 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
- Distinctive Schools put in about $744 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.
- Direct plan expenses (0.96% 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 | $488,836 |
| Participant (employee) contributions | $877,976 |
| Other contributions (incl. rollovers in) | $237,317 |
| Administrative expenses paid from the plan | $66,203 |
| Other admin expenses | $66,203 |
| Benefits paid out | $809,695 |
| Net assets, start / end of year | $6.1M / $7.7M |
| Active participants, start / end of year | 646 / 668 |
| Participants with account balances | 271 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Aprio LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $66,524 reported compensation |
| LPL Financial LLC - Rpcp | $25,748 reported compensation |
| The Pension Specialists | $7,408 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015172059NAL0010520082001, received 2025-10-15, EIN 27-4967763, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.