V.i.p, Inc. 401(k) Review & Grade
V.i.p., Inc. Retirement Savings Plan & Trust
Auburn, MERetail Trade714 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$383Employer $ per active participant
$889Employee $ saved per active participant
1.07%Direct admin cost, % of plan assets
$9.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity14.6 / 5029th percentile for employer $ per participant
- Low cost1.4 / 256th percentile for low admin cost vs. same-size plans
- Employee saving1.9 / 1513th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score11 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 29th |
| Lower admin cost | 6th |
| Employee saving | 13th |
| Peers that auto-enroll | 48% |
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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 ($590,700 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- V.i.p put in about $383 per active participant, below the typical peer ($743). 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 (1.07% 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 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 | $273,377 |
| Participant (employee) contributions | $634,485 |
| Other contributions (incl. rollovers in) | $418,322 |
| Administrative expenses paid from the plan | $90,680 |
| Investment advisory & management fees | $30,511 |
| Benefits paid out | $479,556 |
| Net assets, start / end of year | $7.6M / $9.3M |
| Active participants, start / end of year | 674 / 753 |
| Participants with account balances | 205 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ouellette & Associates, P.A. |
Largest service providers (Schedule C)
| Alerus Financial, N.A. | $60,169 reported compensation |
| Bam Advisor Services, LLC | $30,472 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260715124742NAL0003735472001, received 2026-07-15, EIN 01-0262924, plan #001, plan year 2024-09-01 to 2025-08-31. Verify at efast.dol.gov.