Jencap Group 401(k) Review & Grade
Jencap Group 401(k) Plan
New York, NYFinance & Insurance1,098 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,867Employer $ per active participant
$8,429Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$110.9MNet plan assets, end of year
$100,933Average balance per account
Score breakdown
- Employer generosity18.3 / 5037th percentile for employer $ per participant
- Low cost19.3 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving9.8 / 1565th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-23 pts3 issues reported on the filing
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 77th |
| Employee saving | 65th |
| 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 ($631,853 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $15,591 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Jencap Group put in about $2,867 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.
- 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 | $3,149,636 |
| Participant (employee) contributions | $9,258,872 |
| Other contributions (incl. rollovers in) | $3,428,418 |
| Administrative expenses paid from the plan | $87,987 |
| Investment advisory & management fees | $12,803 |
| Benefits paid out | $10,155,573 |
| Net assets, start / end of year | $91.8M / $110.9M |
| Active participants, start / end of year | 1,069 / 1,128 |
| Participants with account balances | 1,099 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Smith & Howard, P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $61,434 reported compensation |
| Smith & Howard, PC | $13,750 reported compensation |
| Equitable Advisors LLC | $12,803 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250814145346NAL0009211683001, received 2025-08-14, EIN 85-1623752, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.