Ifs North America, Inc. 401(k) Review & Grade
Ifs North America 401(k) Plan
Itasca, ILInformation574 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,039Employer $ per active participant
$16,816Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$195.6MNet plan assets, end of year
$218,056Average balance per account
Score breakdown
- Employer generosity40.9 / 5082th percentile for employer $ per participant
- Low cost17.1 / 2568th percentile for low admin cost vs. same-size plans
- Employee saving13.9 / 1593th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score69 / 100 · Grade B
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 82th |
| Lower admin cost | 68th |
| Employee saving | 93th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($33,097 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $6,257 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ifs North America put in about $5,039 per active participant, more than the typical peer ($2,829). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $2,894,933 |
| Participant (employee) contributions | $9,660,799 |
| Other contributions (incl. rollovers in) | $1,406,111 |
| Administrative expenses paid from the plan | $197,333 |
| Investment advisory & management fees | $40,000 |
| Benefits paid out | $19,030,789 |
| Net assets, start / end of year | $118.6M / $195.6M |
| Active participants, start / end of year | 428 / 721 |
| Participants with account balances | 897 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Sikich CPA LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $148,171 reported compensation |
| P&m Holding Group LLP DBA Plante & | $33,070 reported compensation |
| Sikich CPA LLC | $14,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015134313NAL0006277872001, received 2025-10-15, EIN 39-1292200, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.