Minnieland Private Day School, Inc. 401(k) Review & Grade
Minnieland 401(k) Plan
Woodbridge, VAEducational Services710 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$327Employer $ per active participant
$696Employee $ saved per active participant
0.53%Direct admin cost, % of plan assets
$12.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity4.9 / 5010th percentile for employer $ per participant
- Low cost5.4 / 2521th percentile for low admin cost vs. same-size plans
- Employee saving0.8 / 156th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score4 / 100 · Grade F
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 10th |
| Lower admin cost | 21th |
| Employee saving | 6th |
| Peers that auto-enroll | 37% |
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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 ($82,799 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Minnieland Private Day School put in about $327 per active participant, below the typical peer ($1,225). 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 (0.53% 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 | $232,442 |
| Participant (employee) contributions | $494,347 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $62,368 |
| Investment advisory & management fees | $29,198 |
| Benefits paid out | $1,548,093 |
| Net assets, start / end of year | $11.4M / $12.3M |
| Active participants, start / end of year | 705 / 715 |
| Participants with account balances | 268 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Kositzka Wicks & Company |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $33,170 reported compensation |
| Onedigital Investment Advisors LLC | $26,457 reported compensation |
| Empower Advisory Group, LLC | $2,741 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007171627NAL0002843843001, received 2025-10-07, EIN 54-0954290, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.