Api Group, Inc. 401(k) Review & Grade
Api Group, Inc. Safe Harbor 401(k) & Profit Sharing Plan
New Brighton, MNWholesale Trade3,632 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,459Employer $ per active participant
$1,970Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$150.2MNet plan assets, end of year
$72,646Average balance per account
Score breakdown
- Employer generosity25.0 / 5050th percentile for employer $ per participant
- Low cost9.9 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving1.9 / 1513th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 40th |
| Employee saving | 13th |
| Peers that auto-enroll | 62% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($184,936 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $12,260 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Api Group put in about $2,459 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 | $8,932,430 |
| Participant (employee) contributions | $7,155,686 |
| Other contributions (incl. rollovers in) | $771,761 |
| Administrative expenses paid from the plan | $236,976 |
| Contract administrator fees | $19,682 |
| Investment advisory & management fees | $28,619 |
| Benefits paid out | $10,467,489 |
| Net assets, start / end of year | $123.7M / $150.2M |
| Active participants, start / end of year | 3,421 / 3,844 |
| Participants with account balances | 2,067 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Redpath and Company, LLC |
| Employer stock held by plan | $17,237,163 |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $141,982 reported compensation |
| Redpath and Company LLC | $66,375 reported compensation |
| Mercer Investment Management | $28,619 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013132228NAL0000647747001, received 2025-10-13, EIN 41-1858188, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.