Independence Pet Holdings, Inc. 401(k) Review & Grade
Indpendence Pet Holdings, Inc. 401(k) Retirement Plan
Scottsdale, AZFinance & Insurance1,120 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,980Employer $ per active participant
$5,395Employee $ saved per active participant
0.61%Direct admin cost, % of plan assets
$28.1MNet plan assets, end of year
$20,134Average balance per account
Score breakdown
- Employer generosity19.5 / 5039th percentile for employer $ per participant
- Low cost4.2 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving4.2 / 1528th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 17th |
| Employee saving | 28th |
| Peers that auto-enroll | 62% |
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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 ($3,741,775 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Independence Pet Holdings put in about $2,980 per active participant, below the typical peer ($3,606). 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 (0.61% 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 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 | $3,337,356 |
| Participant (employee) contributions | $6,042,337 |
| Other contributions (incl. rollovers in) | $1,423,138 |
| Administrative expenses paid from the plan | $143,519 |
| Investment advisory & management fees | $22,886 |
| Benefits paid out | $3,687,252 |
| Net assets, start / end of year | $18.6M / $28.1M |
| Active participants, start / end of year | 932 / 1,308 |
| Participants with account balances | 1,397 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Armanino LLP |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260902111557NAL0011468610001, received 2026-09-02, EIN 87-1850788, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.