Pskw, LLC 401(k) Review & Grade
Connectiverx Retirement Savings Plan
Whippany, NJHealth Care & Social Assistance1,416 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,883Employer $ per active participant
$4,819Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$75.0MNet plan assets, end of year
$41,529Average balance per account
Score breakdown
- Employer generosity40.9 / 5082th percentile for employer $ per participant
- Low cost12.2 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving11.5 / 1577th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score75 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 82th |
| Lower admin cost | 49th |
| Employee saving | 77th |
| Peers that auto-enroll | 36% |
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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
- Pskw put in about $2,883 per active participant, more than the typical peer ($976). 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 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 | $4,081,891 |
| Participant (employee) contributions | $6,823,909 |
| Other contributions (incl. rollovers in) | $462,868 |
| Administrative expenses paid from the plan | $163,533 |
| Contract administrator fees | $67,337 |
| Investment advisory & management fees | $35,534 |
| Benefits paid out | $8,953,260 |
| Net assets, start / end of year | $63.0M / $75.0M |
| Active participants, start / end of year | 1,401 / 1,431 |
| Participants with account balances | 1,806 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wiss & Company, LLP |
Largest service providers (Schedule C)
| Newport Group, Inc. | $109,275 reported compensation |
| PNC Institutional Asset Management | $35,534 reported compensation |
| Newport Trust Company | $18,724 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250804130829NAL0000997313001, received 2025-08-04, EIN 20-3058721, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.