IT Concepts, Inc. 401(k) Review & Grade
IT Concepts 401(k) Plan
Mclean, VAProfessional, Scientific & Technical Services591 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,842Employer $ per active participant
$6,674Employee $ saved per active participant
0.41%Direct admin cost, % of plan assets
$26.8MNet plan assets, end of year
$50,390Average balance per account
Score breakdown
- Employer generosity23.0 / 5046th percentile for employer $ per participant
- Low cost7.4 / 2529th percentile for low admin cost vs. same-size plans
- Employee saving5.0 / 1534th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score38 / 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 | 46th |
| Lower admin cost | 29th |
| Employee saving | 34th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- IT Concepts put in about $2,842 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.
- Direct plan expenses (0.41% 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.
- 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 | $1,679,707 |
| Participant (employee) contributions | $3,944,458 |
| Other contributions (incl. rollovers in) | $2,017,685 |
| Administrative expenses paid from the plan | $95,566 |
| Benefits paid out | $3,385,629 |
| Net assets, start / end of year | $19.5M / $26.8M |
| Active participants, start / end of year | 420 / 762 |
| Participants with account balances | 532 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Belfint, Lyons & Shuman, P.A. |
Largest service providers (Schedule C)
| Cetera Investment Advisors | $66,955 reported compensation |
| Limestone Pension Associates | $23,955 reported compensation |
| The Vanguard Group | $18,805 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250725094537NAL0008514032001, received 2025-07-25, EIN 83-0377840, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.