Friendship Foundation 401(k) Review & Grade
Friendship Foundation 401(k) Plan
Roanoke, VAManagement of Companies1,000 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$738Employer $ per active participant
$2,067Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$17.5MNet plan assets, end of year
$15,683Average balance per account
Score breakdown
- Employer generosity6.1 / 5012th percentile for employer $ per participant
- Low cost9.8 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving2.2 / 1515th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Management of Companies plans with 500–2,499 active participants (172 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 39th |
| Employee saving | 15th |
| Peers that auto-enroll | 58% |
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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
- Friendship Foundation put in about $738 per active participant, below the typical peer ($2,492). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $738,484 |
| Participant (employee) contributions | $2,067,858 |
| Other contributions (incl. rollovers in) | $188,009 |
| Administrative expenses paid from the plan | $48,673 |
| Contract administrator fees | $48,673 |
| Benefits paid out | $1,329,673 |
| Net assets, start / end of year | $13.8M / $17.5M |
| Active participants, start / end of year | 992 / 1,009 |
| Participants with account balances | 1,115 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Brown, Edwards & Company, L.L.P. |
Largest service providers (Schedule C)
| Ascensus LLC | $48,673 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260210130702NAL0001959987001, received 2026-02-10, EIN 54-1427948, plan #001, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.