Alclear, LLC 401(k) Review & Grade
Alclear, LLC 401(k) Plan
New York, NYTransportation & Warehousing3,256 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$690Employer $ per active participant
$2,972Employee $ saved per active participant
1.06%Direct admin cost, % of plan assets
$42.2MNet plan assets, end of year
$10,516Average balance per account
Score breakdown
- Employer generosity9.8 / 5020th percentile for employer $ per participant
- Low cost1.0 / 254th percentile for low admin cost vs. same-size plans
- Employee saving5.0 / 1534th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Transportation & Warehousing plans with 2,500–9,999 active participants (123 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 4th |
| Employee saving | 34th |
| Peers that auto-enroll | 46% |
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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
- Alclear put in about $690 per active participant, below the typical peer ($1,834). 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 (1.06% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $2,246,277 |
| Participant (employee) contributions | $9,677,488 |
| Other contributions (incl. rollovers in) | $1,870,714 |
| Administrative expenses paid from the plan | $392,767 |
| Investment advisory & management fees | $102,078 |
| Other admin expenses | $23,520 |
| Benefits paid out | $8,579,245 |
| Net assets, start / end of year | $32.0M / $42.2M |
| Active participants, start / end of year | 3,015 / 3,497 |
| Participants with account balances | 4,009 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | BDG CPA |
Largest service providers (Schedule C)
| Empower Life & Annuity Insurance Co | $280,861 reported compensation |
| Gregory J Schwartz & Company Inc | $102,078 reported compensation |
| Alclear LLC DBA Clear | $23,520 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014213219NAL0007437682001, received 2025-10-14, EIN 27-1733425, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.