Knights of Columbus 401(k) Review & Grade
The Management Tax Savings Investment Plan for Knights of Columbus
New Haven, CTFinance & Insurance662 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,320Employer $ per active participant
$10,653Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$156.0MNet plan assets, end of year
$171,649Average balance per account
Score breakdown
- Employer generosity22.6 / 5045th percentile for employer $ per participant
- Low cost20.5 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving11.8 / 1579th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score65 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 82th |
| Employee saving | 79th |
| Peers that auto-enroll | 62% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Knights of Columbus put in about $3,320 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 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 | $2,196,324 |
| Participant (employee) contributions | $7,047,033 |
| Other contributions (incl. rollovers in) | $1,100,260 |
| Administrative expenses paid from the plan | $100,799 |
| Contract administrator fees | $100,437 |
| Other admin expenses | $362 |
| Benefits paid out | $10,521,714 |
| Net assets, start / end of year | $139.5M / $156.0M |
| Active participants, start / end of year | 637 / 686 |
| Participants with account balances | 909 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Seward and Monde, Cpas |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $100,436 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250820120752NAL0003220161001, received 2025-08-20, EIN 06-0416470, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.