Scan Group 401(k) Review & Grade
Scan Group 401(k) Plan
Long Beach, CAFinance & Insurance2,043 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,519Employer $ per active participant
$7,623Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$201.2MNet plan assets, end of year
$83,304Average balance per account
Score breakdown
- Employer generosity39.9 / 5080th percentile for employer $ per participant
- Low cost15.8 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving8.4 / 1556th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 80th |
| Lower admin cost | 63th |
| Employee saving | 56th |
| Peers that auto-enroll | 62% |
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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
- Scan Group put in about $6,519 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.
- 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 | $13,318,989 |
| Participant (employee) contributions | $15,574,162 |
| Other contributions (incl. rollovers in) | $2,509,539 |
| Administrative expenses paid from the plan | $279,550 |
| Investment advisory & management fees | $92,219 |
| Benefits paid out | $21,618,712 |
| Net assets, start / end of year | $169.9M / $201.2M |
| Active participants, start / end of year | 1,965 / 2,121 |
| Participants with account balances | 2,415 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $238,080 reported compensation |
| Empower Advisory Group | $45,969 reported compensation |
| Mercer (US) Inc | $40,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250911235002NAL0000911329001, received 2025-09-12, EIN 95-3826037, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.