Port Madison Enterprises 401(k) Review & Grade
Port Madison Enterprises 401(k) Plan
Suquamish, WAAccommodation & Food Services684 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,762Employer $ per active participant
$4,087Employee $ saved per active participant
0.43%Direct admin cost, % of plan assets
$41.5MNet plan assets, end of year
$49,401Average balance per account
Score breakdown
- Employer generosity48.7 / 5097th percentile for employer $ per participant
- Low cost7.1 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving14.2 / 1595th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score80 / 100 · Grade A
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 97th |
| Lower admin cost | 28th |
| Employee saving | 95th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Port Madison Enterprises put in about $2,762 per active participant, more than the typical peer ($266). 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 (0.43% 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.
- 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 | $1,890,617 |
| Participant (employee) contributions | $2,797,349 |
| Other contributions (incl. rollovers in) | $271,190 |
| Administrative expenses paid from the plan | $165,996 |
| Contract administrator fees | $109,574 |
| Investment advisory & management fees | $56,422 |
| Benefits paid out | $4,314,889 |
| Net assets, start / end of year | $36.2M / $41.5M |
| Active participants, start / end of year | 709 / 660 |
| Participants with account balances | 840 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $97,369 reported compensation |
| Morgan Stanley Global | $56,422 reported compensation |
| Hunnex and Shoemaker, Inc. | $31,045 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014191955NAL0007236226001, received 2025-10-14, EIN 91-1700348, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.