Harvard Maintenance, Inc. 401(k) Review & Grade
Harvard Maintenance, Inc. 401(k) Savings Plan
Miami, FLAdministrative, Support & Staffing Services3,240 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$285Employer $ per active participant
$998Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$29.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity23.4 / 5047th percentile for employer $ per participant
- Low cost6.9 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving6.5 / 1544th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 2,500–9,999 active participants (125 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 28th |
| Employee saving | 44th |
| Peers that auto-enroll | 22% |
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Red flags from the filing
Corrective distributions: the plan refunded $74 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Harvard Maintenance put in about $285 per active participant, below the typical peer ($342). 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 (0.25% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $924,459 |
| Participant (employee) contributions | $3,234,194 |
| Other contributions (incl. rollovers in) | $409,466 |
| Administrative expenses paid from the plan | $68,884 |
| Benefits paid out | $3,770,006 |
| Net assets, start / end of year | $25.7M / $29.4M |
| Active participants, start / end of year | 2,302 / 4,178 |
| Participants with account balances | 586 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Wiss & Company, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $68,884 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015121635NAL0006044640001, received 2025-10-15, EIN 13-1954860, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.