22nd Century Technologies, Inc. 401(k) Review & Grade
22nd Century Technologies, Inc. 401(k) Profit Sharing Plan & Trust
Mclean, VAProfessional, Scientific & Technical Services1,332 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$446Employer $ per active participant
$3,288Employee $ saved per active participant
1.29%Direct admin cost, % of plan assets
$27.8MNet plan assets, end of year
$16,999Average balance per account
Score breakdown
- Employer generosity6.3 / 5013th percentile for employer $ per participant
- Low cost0.9 / 254th percentile for low admin cost vs. same-size plans
- Employee saving2.4 / 1516th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score8 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 4th |
| Employee saving | 16th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Auditor disclaimer: the auditor issued a disclaimer of opinion.
What to do if you're in this plan
- 22nd Century Technologies put in about $446 per active participant, below the typical peer ($3,082). 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 (1.29% 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 | $593,538 |
| Participant (employee) contributions | $4,380,033 |
| Other contributions (incl. rollovers in) | $444,804 |
| Administrative expenses paid from the plan | $334,143 |
| Contract administrator fees | $219,437 |
| Investment advisory & management fees | $63,726 |
| Other admin expenses | $50,980 |
| Benefits paid out | $4,635,845 |
| Net assets, start / end of year | $24.2M / $27.8M |
| Active participants, start / end of year | 1,545 / 1,119 |
| Participants with account balances | 1,635 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Vikas Garg |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $219,436 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $114,814 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009162039NAL0004090387001, received 2025-10-09, EIN 22-3502121, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.