Greenspoon Marder, LLP 401(k) Review & Grade
Greenspoon Marder 401(k) Plan
FT. Lauderdale, FLProfessional, Scientific & Technical Services560 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,338Employer $ per active participant
$7,768Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$89.2MNet plan assets, end of year
$115,859Average balance per account
Score breakdown
- Employer generosity12.2 / 5024th percentile for employer $ per participant
- Low cost17.5 / 2570th percentile for low admin cost vs. same-size plans
- Employee saving6.0 / 1540th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 70th |
| Employee saving | 40th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $711 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Greenspoon Marder, LLP put in about $1,338 per active participant, below the typical peer ($3,082). 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 | $749,500 |
| Participant (employee) contributions | $4,350,075 |
| Other contributions (incl. rollovers in) | $2,192,857 |
| Administrative expenses paid from the plan | $98,770 |
| Investment advisory & management fees | $52,500 |
| Other admin expenses | $674 |
| Benefits paid out | $7,569,515 |
| Net assets, start / end of year | $79.1M / $89.2M |
| Active participants, start / end of year | 616 / 504 |
| Participants with account balances | 770 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Assurance Dimensions |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $45,596 reported compensation |
| American Portfolios Advisors Inc | $39,375 reported compensation |
| Marsh & Mclennan Companies Inc | $13,125 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010090727NAL0017486514001, received 2025-10-10, EIN 81-2555319, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.