Apfs LLC 401(k) Review & Grade
Apfs 401(k) Plan
Chicago, ILAdministrative, Support & Staffing Services4,162 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,901Employer $ per active participant
$5,145Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$198.3MNet plan assets, end of year
$75,478Average balance per account
Score breakdown
- Employer generosity41.1 / 5082th percentile for employer $ per participant
- Low cost9.6 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving13.5 / 1590th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score64 / 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 | 82th |
| Lower admin cost | 39th |
| Employee saving | 90th |
| Peers that auto-enroll | 22% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,699 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Apfs put in about $1,901 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.
- 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 | $7,913,446 |
| Participant (employee) contributions | $21,412,547 |
| Other contributions (incl. rollovers in) | $4,254,965 |
| Administrative expenses paid from the plan | $320,531 |
| Contract administrator fees | $215,346 |
| Investment advisory & management fees | $70,142 |
| Other admin expenses | $35,043 |
| Benefits paid out | $20,559,838 |
| Net assets, start / end of year | $159.0M / $198.3M |
| Active participants, start / end of year | 4,515 / 3,809 |
| Participants with account balances | 2,627 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $215,346 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $105,185 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250918131750NAL0003262018001, received 2025-09-18, EIN 20-4714798, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.