Kofile, Inc. 401(k) Review & Grade
Kofile, Inc. 401(k) Plan
Dallas, TXInformation688 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$334Employer $ per active participant
$2,668Employee $ saved per active participant
0.67%Direct admin cost, % of plan assets
$14.3MNet plan assets, end of year
$19,942Average balance per account
Score breakdown
- Employer generosity5.7 / 5011th percentile for employer $ per participant
- Low cost3.5 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 159th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-13 pts2 issues reported on the filing
Total score0 / 100 · Grade F
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 11th |
| Lower admin cost | 14th |
| Employee saving | 9th |
| Peers that auto-enroll | 59% |
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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 ($49,391 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $63,572 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Kofile put in about $334 per active participant, below the typical peer ($2,829). 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 (0.67% 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 | $230,181 |
| Participant (employee) contributions | $1,837,028 |
| Other contributions (incl. rollovers in) | $38,049 |
| Administrative expenses paid from the plan | $89,427 |
| Contract administrator fees | $82,171 |
| Other admin expenses | $7,256 |
| Benefits paid out | $1,533,359 |
| Net assets, start / end of year | $12.4M / $14.3M |
| Active participants, start / end of year | 728 / 649 |
| Participants with account balances | 717 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Weaver and Tidwell, L.L.P. |
Largest service providers (Schedule C)
| Voya Retirement Insurance & Annuity | $89,458 reported compensation |
| Wellth Advisory Services, LLC | $26,812 reported compensation |
| Global Retirement Partners LLC | $25,092 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013131141NAL0002009664001, received 2025-10-13, EIN 26-2800018, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.