Jazz Basketball Investors LLC 401(k) Review & Grade
Jazz Basketball Investors LLC 401(k) Plan
Salt Lake City, UTArts, Entertainment & Recreation1,363 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,133Employer $ per active participant
$2,120Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$41.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity26.8 / 5054th percentile for employer $ per participant
- Low cost13.7 / 2555th percentile for low admin cost vs. same-size plans
- Employee saving6.8 / 1545th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 55th |
| Employee saving | 45th |
| Peers that auto-enroll | 38% |
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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 ($226,749 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $9,117 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Jazz Basketball Investors put in about $1,133 per active participant, more than the typical peer ($995). 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 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 | $1,543,835 |
| Participant (employee) contributions | $2,889,689 |
| Other contributions (incl. rollovers in) | $1,637,085 |
| Administrative expenses paid from the plan | $71,689 |
| Contract administrator fees | $71,689 |
| Benefits paid out | $1,205,055 |
| Net assets, start / end of year | $32.1M / $41.2M |
| Active participants, start / end of year | 1,192 / 1,534 |
| Participants with account balances | 662 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Eide Bailly |
Largest service providers (Schedule C)
| Gallagher Benefit Services Inc DBA | $37,541 reported compensation |
| Empower Annuity Insurance Company O | $34,148 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006140619NAL0003733217001, received 2025-10-06, EIN 87-0463017, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.