Finastra USA Corporation 401(k) Review & Grade
Finastra USA Salary Savings 401(k) Plan
Lake Mary, FLInformation1,084 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,100Employer $ per active participant
$11,918Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$428.4MNet plan assets, end of year
$235,406Average balance per account
Score breakdown
- Employer generosity41.3 / 5083th percentile for employer $ per participant
- Low cost21.3 / 2585th percentile for low admin cost vs. same-size plans
- Employee saving10.6 / 1571th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 85th |
| Employee saving | 71th |
| Peers that auto-enroll | 59% |
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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 ($655,658 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
- Finastra USA put in about $5,100 per active participant, more than the typical peer ($2,829). 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.
- 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.
- 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 | $5,531,275 |
| Participant (employee) contributions | $12,924,585 |
| Other contributions (incl. rollovers in) | $737,433 |
| Administrative expenses paid from the plan | $234,481 |
| Investment advisory & management fees | $98,887 |
| Other admin expenses | $21,548 |
| Benefits paid out | $45,685,500 |
| Net assets, start / end of year | $398.2M / $428.4M |
| Active participants, start / end of year | 1,163 / 1,006 |
| Participants with account balances | 1,820 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Perkins & Co |
Largest service providers (Schedule C)
| Captrust Financial Partners, LLC | $123,402 reported compensation |
| Merrill Lynch, Pierce, Fenner and S | $114,046 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014095702NAL0003587184001, received 2025-10-14, EIN 59-3760087, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.