Follett Higher Education Group, LLC 401(k) Review & Grade
Follett Retirement Savings Plan
Westchester, ILWholesale Trade5,015 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$767Employer $ per active participant
$1,446Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$335.4MNet plan assets, end of year
$80,195Average balance per account
Score breakdown
- Employer generosity5.9 / 5012th percentile for employer $ per participant
- Low cost18.5 / 2574th percentile for low admin cost vs. same-size plans
- Employee saving1.2 / 158th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 74th |
| Employee saving | 8th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Follett Higher Education Group put in about $767 per active participant, below the typical peer ($2,459). 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 | $3,848,418 |
| Participant (employee) contributions | $7,253,570 |
| Other contributions (incl. rollovers in) | $1,374,439 |
| Administrative expenses paid from the plan | $191,834 |
| Investment advisory & management fees | $717 |
| Other admin expenses | $997 |
| Benefits paid out | $40,922,578 |
| Net assets, start / end of year | $321.3M / $335.4M |
| Active participants, start / end of year | 5,403 / 4,627 |
| Participants with account balances | 4,182 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Miller, Cooper & Company, LTD |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $190,120 reported compensation |
| Charles Schwab & Co., Inc. | $457 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013172921NAL0000870675001, received 2025-10-13, EIN 36-2593135, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.