Areas USA, Inc. 401(k) Review & Grade
Areas USA, Inc. 401(k) Profit Sharing Plan and Trust
Miami, FLAccommodation & Food Services1,504 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$289Employer $ per active participant
$1,078Employee $ saved per active participant
1.63%Direct admin cost, % of plan assets
$8.1MNet plan assets, end of year
$8,502Average balance per account
Score breakdown
- Employer generosity25.7 / 5051th percentile for employer $ per participant
- Low cost0.5 / 252th percentile for low admin cost vs. same-size plans
- Employee saving9.6 / 1564th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 51th |
| Lower admin cost | 2th |
| Employee saving | 64th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Corrective distributions: the plan refunded $71,070 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Areas USA put in about $289 per active participant, more than the typical peer ($266). 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 (1.63% 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.
- 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 | $434,323 |
| Participant (employee) contributions | $1,621,439 |
| Other contributions (incl. rollovers in) | $504,155 |
| Administrative expenses paid from the plan | $113,655 |
| Benefits paid out | $961,368 |
| Net assets, start / end of year | $5.9M / $8.1M |
| Active participants, start / end of year | 1,841 / 1,168 |
| Participants with account balances | 952 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Paast P.L. |
Largest service providers (Schedule C)
| Adp, Inc. | $113,655 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015052211NAL0001912355001, received 2025-10-15, EIN 20-3841699, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.