Apex Systems, LLC 401(k) Review & Grade
Apex Systems, LLC 401(k) Plan
Glen Allen, VAAdministrative, Support & Staffing Services3,832 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,540Employer $ per active participant
$7,821Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$478.7MNet plan assets, end of year
$110,383Average balance per account
Score breakdown
- Employer generosity43.5 / 5087th percentile for employer $ per participant
- Low cost14.6 / 2558th percentile for low admin cost vs. same-size plans
- Employee saving14.2 / 1594th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score69 / 100 · Grade B
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 2,500–9,999 active participants (125 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 58th |
| Employee saving | 94th |
| Peers that auto-enroll | 22% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $4,060 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Apex Systems put in about $2,540 per active participant, more than the typical peer ($342). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $9,732,540 |
| Participant (employee) contributions | $29,969,825 |
| Other contributions (incl. rollovers in) | $8,332,825 |
| Administrative expenses paid from the plan | $419,195 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $102,056 |
| Benefits paid out | $31,272,888 |
| Net assets, start / end of year | $391.7M / $478.7M |
| Active participants, start / end of year | 3,381 / 4,283 |
| Participants with account balances | 4,337 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Keiter Stephens |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $282,400 reported compensation |
| Janney Montgomery Scott LLC | $74,924 reported compensation |
| Keiter Stephens | $34,739 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014101916NAL0002604609001, received 2025-10-14, EIN 54-1773546, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.