Ima Financial Group, Inc. 401(k) Review & Grade
Ima Financial Group, Inc. 401(k) Profit Sharing Plan and Trust
Wichita, KSFinance & Insurance2,531 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,713Employer $ per active participant
$9,327Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$317.2MNet plan assets, end of year
$106,449Average balance per account
Score breakdown
- Employer generosity27.5 / 5055th percentile for employer $ per participant
- Low cost8.3 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving8.9 / 1559th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 55th |
| Lower admin cost | 33th |
| Employee saving | 59th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,888 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ima Financial Group put in about $4,713 per active participant, more than the typical peer ($4,489). 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.
- Direct plan expenses (0.21% 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.
- 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 | $11,928,484 |
| Participant (employee) contributions | $23,606,547 |
| Other contributions (incl. rollovers in) | $21,017,464 |
| Administrative expenses paid from the plan | $576,174 |
| Investment advisory & management fees | $182,016 |
| Benefits paid out | $19,986,450 |
| Net assets, start / end of year | $233.4M / $317.2M |
| Active participants, start / end of year | 2,336 / 2,726 |
| Participants with account balances | 2,980 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Allen, Gibbs and Houlik, LLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $394,158 reported compensation |
| Empower Advisory Group, LLC | $182,016 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260206130625NAL0006705984001, received 2026-02-06, EIN 48-0805634, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.