True North Management, LLC 401(k) Review & Grade
Truenorth 401k Plan
Brecksville, OHRetail Trade634 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,766Employer $ per active participant
$2,474Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$30.1MNet plan assets, end of year
$61,137Average balance per account
Score breakdown
- Employer generosity46.2 / 5092th percentile for employer $ per participant
- Low cost7.6 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving6.1 / 1541th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score63 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 30th |
| Employee saving | 41th |
| Peers that auto-enroll | 48% |
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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
- True North Management put in about $2,766 per active participant, more than the typical peer ($743). 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 (0.40% 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.
- 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 | $1,752,028 |
| Participant (employee) contributions | $1,567,185 |
| Other contributions (incl. rollovers in) | $99,691 |
| Administrative expenses paid from the plan | $119,237 |
| Other admin expenses | $119,237 |
| Benefits paid out | $4,896,828 |
| Net assets, start / end of year | $29.1M / $30.1M |
| Active participants, start / end of year | 339 / 928 |
| Participants with account balances | 493 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bober, Markey, Fedorovich & Company |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $58,397 reported compensation |
| Empower Advisory Group, LLC | $48,274 reported compensation |
| Fifth Third Bank | $14,740 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001152413NAL0021205122001, received 2025-10-01, EIN 34-1900634, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.