Api Group, Inc. 401(k) Review & Grade
Api Group, Inc. 401(k) & Profit Sharing Plan
New Brighton, MNWholesale Trade4,953 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,921Employer $ per active participant
$6,269Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$675.7MNet plan assets, end of year
$105,070Average balance per account
Score breakdown
- Employer generosity44.1 / 5088th percentile for employer $ per participant
- Low cost14.8 / 2559th percentile for low admin cost vs. same-size plans
- Employee saving10.0 / 1567th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 59th |
| Employee saving | 67th |
| Peers that auto-enroll | 62% |
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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 ($389,304 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $25,170 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Api Group put in about $5,921 per active participant, more than the typical peer ($2,459). 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.
- 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 | $29,324,365 |
| Participant (employee) contributions | $31,051,613 |
| Other contributions (incl. rollovers in) | $6,021,225 |
| Administrative expenses paid from the plan | $585,061 |
| Contract administrator fees | −$468 |
| Investment advisory & management fees | $129,585 |
| Benefits paid out | $48,945,734 |
| Net assets, start / end of year | $566.5M / $675.7M |
| Active participants, start / end of year | 4,810 / 5,096 |
| Participants with account balances | 6,431 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Redpath and Company LLC |
| Employer stock held by plan | $97,001,137 |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $381,766 reported compensation |
| Mercer Investment Management | $129,585 reported compensation |
| Redpath and Company LLC | $75,225 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014115214NAL0005785554001, received 2025-10-14, EIN 41-1858188, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.