Neighborhood Loans, Inc. 401(k) Review & Grade
Neighborhood Loans 401(k) Plan
Downers Grove, ILFinance & Insurance506 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,533Employer $ per active participant
$4,860Employee $ saved per active participant
0.58%Direct admin cost, % of plan assets
$18.7MNet plan assets, end of year
$42,145Average balance per account
Score breakdown
- Employer generosity7.4 / 5015th percentile for employer $ per participant
- Low cost4.7 / 2519th percentile for low admin cost vs. same-size plans
- Employee saving3.2 / 1521th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-8 pts2 issues reported on the filing
Total score7 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 19th |
| Employee saving | 21th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Auditor disclaimer: the auditor issued a disclaimer of opinion.
Corrective distributions: the plan refunded $4,670 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Neighborhood Loans put in about $1,533 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.
- Direct plan expenses (0.58% 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.
- 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 | $776,288 |
| Participant (employee) contributions | $2,461,428 |
| Other contributions (incl. rollovers in) | $1,099,642 |
| Administrative expenses paid from the plan | $92,835 |
| Investment advisory & management fees | $53,424 |
| Other admin expenses | $39,411 |
| Benefits paid out | $1,202,533 |
| Net assets, start / end of year | $13.4M / $18.7M |
| Active participants, start / end of year | 447 / 566 |
| Participants with account balances | 444 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Eifel Rambo Advisory Group, LTD. |
Largest service providers (Schedule C)
| Creative Planning, Inc. | $53,424 reported compensation |
| At Retirement Services, LLC | $39,411 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009092959NAL0003789891001, received 2025-10-09, EIN 20-2408098, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.