The Partner Companies LLC 401(k) Review & Grade
The Partner Companies 401(k) Plan
Chicago, ILManagement of Companies548 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,586Employer $ per active participant
$5,122Employee $ saved per active participant
0.68%Direct admin cost, % of plan assets
$30.0MNet plan assets, end of year
$52,524Average balance per account
Score breakdown
- Employer generosity25.7 / 5051th percentile for employer $ per participant
- Low cost3.4 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving6.4 / 1543th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Management of Companies plans with 500–2,499 active participants (172 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 51th |
| Lower admin cost | 14th |
| Employee saving | 43th |
| Peers that auto-enroll | 58% |
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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 ($36,070 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $1,262 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Partner Companies put in about $2,586 per active participant, more than the typical peer ($2,492). 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.
- Direct plan expenses (0.68% of assets) are well above similar-size plans (0.23%). 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 | $1,418,180 |
| Participant (employee) contributions | $2,809,600 |
| Other contributions (incl. rollovers in) | $561,624 |
| Administrative expenses paid from the plan | $186,166 |
| Contract administrator fees | $186,166 |
| Benefits paid out | $2,514,103 |
| Net assets, start / end of year | $24.6M / $30.0M |
| Active participants, start / end of year | 551 / 546 |
| Participants with account balances | 571 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Smith & Howard, PC |
Largest service providers (Schedule C)
| Transamerica Financial Life Ins Co | $146,327 reported compensation |
| Futureplan by Ascensus | $39,210 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260211085137NAL0004358195001, received 2026-02-11, EIN 85-2379191, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.