Skinspirit Essential, LLC 401(k) Review & Grade
Skinspirit Essential 401(k) Plan
Seattle, WAHealth Care & Social Assistance568 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,214Employer $ per active participant
$3,831Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$28.8MNet plan assets, end of year
$43,966Average balance per account
Score breakdown
- Employer generosity37.0 / 5074th percentile for employer $ per participant
- Low cost21.2 / 2585th percentile for low admin cost vs. same-size plans
- Employee saving9.9 / 1566th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score78 / 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 | 74th |
| Lower admin cost | 85th |
| Employee saving | 66th |
| 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
- Skinspirit Essential put in about $2,214 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 | $1,257,712 |
| Participant (employee) contributions | $2,175,987 |
| Other contributions (incl. rollovers in) | $553,264 |
| Administrative expenses paid from the plan | $10,114 |
| Benefits paid out | $1,380,915 |
| Net assets, start / end of year | $6.0M / $28.8M |
| Active participants, start / end of year | 511 / 625 |
| Participants with account balances | 656 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Sentinel Benefits Group, LLC | $9,982 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007143105NAL0004727233001, received 2025-10-07, EIN 46-2736285, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.