The Imagine Group 401(k) Review & Grade
The Imagine Group 401(k) Savings Plan
Shakopee, MNManufacturing1,287 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,533Employer $ per active participant
$5,381Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$116.4MNet plan assets, end of year
$77,560Average balance per account
Score breakdown
- Employer generosity15.8 / 5032th percentile for employer $ per participant
- Low cost11.1 / 2544th percentile for low admin cost vs. same-size plans
- Employee saving8.5 / 1557th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 32th |
| Lower admin cost | 44th |
| Employee saving | 57th |
| Peers that auto-enroll | 59% |
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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
- Imagine Group put in about $1,533 per active participant, below the typical peer ($2,320). 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.
- 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 | $1,972,702 |
| Participant (employee) contributions | $6,924,915 |
| Other contributions (incl. rollovers in) | $2,401,754 |
| Administrative expenses paid from the plan | $295,389 |
| Contract administrator fees | $219,501 |
| Investment advisory & management fees | $56,157 |
| Benefits paid out | $10,862,513 |
| Net assets, start / end of year | $101.9M / $116.4M |
| Active participants, start / end of year | 1,232 / 1,342 |
| Participants with account balances | 1,501 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $219,501 reported compensation |
| Mercer Investments | $56,157 reported compensation |
| Cliftonlarsonallen LLP | $18,375 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922123139NAL0002134067001, received 2025-09-22, EIN 41-1612906, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.