Everglades College, Inc. 401(k) Review & Grade
Everglades College, Inc. Retirement Savings Plan
Fort Lauderdale, FLEducational Services2,707 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,627Employer $ per active participant
$3,383Employee $ saved per active participant
0.36%Direct admin cost, % of plan assets
$133.2MNet plan assets, end of year
$54,090Average balance per account
Score breakdown
- Employer generosity37.9 / 5076th percentile for employer $ per participant
- Low cost4.6 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving7.3 / 1548th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Educational Services plans with 2,500–9,999 active participants (34 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 18th |
| Employee saving | 48th |
| Peers that auto-enroll | 65% |
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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 ($4,225,489 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
- Everglades College put in about $1,627 per active participant, more than the typical peer ($1,155). 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 (0.36% 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $4,403,105 |
| Participant (employee) contributions | $9,158,331 |
| Other contributions (incl. rollovers in) | $875,198 |
| Administrative expenses paid from the plan | $446,380 |
| Investment advisory & management fees | $228,619 |
| Benefits paid out | $13,474,505 |
| Net assets, start / end of year | $117.1M / $133.2M |
| Active participants, start / end of year | 2,686 / 2,728 |
| Participants with account balances | 2,463 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Symphona LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $217,761 reported compensation |
| Provenance Wealth Advisors LLC | $200,608 reported compensation |
| Empower Advisory Group | $28,011 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250925142159NAL0009281968001, received 2025-09-25, EIN 65-0216638, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.