Gleiberman Properties Inc. 401(k) Review & Grade
MG Properties Retirement Plan
San Diego, CAReal Estate & Rental636 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,002Employer $ per active participant
$4,168Employee $ saved per active participant
0.77%Direct admin cost, % of plan assets
$22.0MNet plan assets, end of year
$29,199Average balance per account
Score breakdown
- Employer generosity20.5 / 5041th percentile for employer $ per participant
- Low cost2.7 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving8.4 / 1556th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 11th |
| Employee saving | 56th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Corrective distributions: the plan refunded $87,705 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Gleiberman Properties put in about $1,002 per active participant, below the typical peer ($1,279). 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 (0.77% 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 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 | $636,515 |
| Participant (employee) contributions | $2,648,732 |
| Other contributions (incl. rollovers in) | $455,372 |
| Administrative expenses paid from the plan | $149,725 |
| Investment advisory & management fees | $44,499 |
| Benefits paid out | $1,129,824 |
| Net assets, start / end of year | $17.1M / $22.0M |
| Active participants, start / end of year | 638 / 633 |
| Participants with account balances | 752 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Considine & Considine |
Largest service providers (Schedule C)
| Adp, Inc. | $105,227 reported compensation |
| Axa Advisors, LLC | $44,498 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251011053811NAL0004628307001, received 2025-10-11, EIN 33-0711832, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.