Patriot Growth Insurance Services, LLC 401(k) Review & Grade
Patriot Growth Insurance Services, LLC 401(k) Plan
Fort Washington, PAFinance & Insurance1,826 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,695Employer $ per active participant
$8,100Employee $ saved per active participant
0.38%Direct admin cost, % of plan assets
$147.3MNet plan assets, end of year
$68,053Average balance per account
Score breakdown
- Employer generosity25.8 / 5052th percentile for employer $ per participant
- Low cost8.1 / 2532th percentile for low admin cost vs. same-size plans
- Employee saving9.2 / 1561th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 52th |
| Lower admin cost | 32th |
| Employee saving | 61th |
| 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 ($4,052,758 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $9,957 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Patriot Growth Insurance Services put in about $3,695 per active participant, more than the typical peer ($3,606). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 (0.38% 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $6,744,744 |
| Participant (employee) contributions | $14,785,674 |
| Other contributions (incl. rollovers in) | $11,923,065 |
| Administrative expenses paid from the plan | $486,189 |
| Contract administrator fees | $240,247 |
| Investment advisory & management fees | $245,942 |
| Benefits paid out | $11,767,284 |
| Net assets, start / end of year | $109.5M / $147.3M |
| Active participants, start / end of year | 1,734 / 1,917 |
| Participants with account balances | 2,165 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Torrillo & Associates LLC |
Largest service providers (Schedule C)
| Pensionmark Financial Group, LLC | $245,942 reported compensation |
| John Hancock Retirement | $240,247 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013150849NAL0003312738001, received 2025-10-13, EIN 83-1204744, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.