Planesense, Inc. 401(k) Review & Grade
Planesense, Inc. 401(k) Plan
Portsmouth, NHTransportation & Warehousing584 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,556Employer $ per active participant
$6,551Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$36.1MNet plan assets, end of year
$68,296Average balance per account
Score breakdown
- Employer generosity39.5 / 5079th percentile for employer $ per participant
- Low cost18.3 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving12.6 / 1584th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score60 / 100 · Grade B
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 79th |
| Lower admin cost | 73th |
| Employee saving | 84th |
| 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 ($237,681 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $135,344 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Planesense put in about $2,556 per active participant, more than the typical peer ($1,070). 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.
- 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 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 | $1,491,396 |
| Participant (employee) contributions | $3,822,271 |
| Other contributions (incl. rollovers in) | $494,765 |
| Administrative expenses paid from the plan | $33,382 |
| Contract administrator fees | $3,635 |
| Benefits paid out | $2,284,452 |
| Net assets, start / end of year | $28.5M / $36.1M |
| Active participants, start / end of year | 601 / 566 |
| Participants with account balances | 528 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker, Newman & Noyes LLC |
Largest service providers (Schedule C)
| Cetera Advisor Network | $66,020 reported compensation |
| Nationwide Insurance | $51,724 reported compensation |
| Leafhouse Financial Advisors LLC | $34,113 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250815100922NAL0010412257001, received 2025-08-15, EIN 04-3161509, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.