Alexander Mann Solutions Corporation 401(k) Review & Grade
Alexander Mann Retirement Savings Plan
Cleveland, OHAdministrative, Support & Staffing Services812 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,934Employer $ per active participant
$6,267Employee $ saved per active participant
0.44%Direct admin cost, % of plan assets
$39.7MNet plan assets, end of year
$32,158Average balance per account
Score breakdown
- Employer generosity39.4 / 5079th percentile for employer $ per participant
- Low cost6.8 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving13.0 / 1586th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-10 pts1 issue reported on the filing
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 500–2,499 active participants (401 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 79th |
| Lower admin cost | 27th |
| Employee saving | 86th |
| Peers that auto-enroll | 27% |
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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 ($4,752 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
- Alexander Mann Solutions put in about $1,934 per active participant, more than the typical peer ($712). 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 (0.44% 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 | $1,569,179 |
| Participant (employee) contributions | $5,085,578 |
| Other contributions (incl. rollovers in) | $1,171,024 |
| Administrative expenses paid from the plan | $163,967 |
| Benefits paid out | $7,255,129 |
| Net assets, start / end of year | $34.8M / $39.7M |
| Active participants, start / end of year | 863 / 760 |
| Participants with account balances | 1,234 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Maloney and Novotny LLC |
Largest service providers (Schedule C)
| Newport Group, Inc. | $163,067 reported compensation |
| Schwab Retirement Plan Services,inc | $900 reported compensation |
| Charles Schwab & Co., Inc. | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014154630NAL0001608659001, received 2025-10-14, EIN 56-2603515, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.