Swipejobs, Inc. 401(k) Review & Grade
Swipejobs, Inc. 401(k) Plan
Dallas, TXAdministrative, Support & Staffing Services5,365 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$28Employer $ per active participant
$178Employee $ saved per active participant
1.26%Direct admin cost, % of plan assets
$5.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity10.1 / 5020th percentile for employer $ per participant
- Low cost0.7 / 253th percentile for low admin cost vs. same-size plans
- Employee saving2.3 / 1515th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score10 / 100 · Grade F
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 2,500–9,999 active participants (125 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 3th |
| Employee saving | 15th |
| Peers that auto-enroll | 22% |
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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 ($3,207 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $48,639 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Swipejobs put in about $28 per active participant, below the typical peer ($342). Any match is still an instant return, so contribute enough to get all of it.
- 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 (1.26% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $151,288 |
| Participant (employee) contributions | $955,846 |
| Other contributions (incl. rollovers in) | $136,752 |
| Administrative expenses paid from the plan | $60,657 |
| Investment advisory & management fees | $21,568 |
| Benefits paid out | $672,307 |
| Net assets, start / end of year | $4.3M / $5.3M |
| Active participants, start / end of year | 4,702 / 6,028 |
| Participants with account balances | 272 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wipfli LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $39,089 reported compensation |
| Mma Securities LLC | $21,568 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250829145409NAL0022503330001, received 2025-08-29, EIN 47-1203513, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.