Barrett Financial Group, L.L.C. 401(k) Review & Grade
Barrett Financial Group, L.L.C. 401k Plan
Gilbert, AZFinance & Insurance752 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$0Employer $ per active participant
$1,804Employee $ saved per active participant
0.70%Direct admin cost, % of plan assets
$7.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity0.7 / 501th percentile for employer $ per participant
- Low cost3.3 / 2513th percentile for low admin cost vs. same-size plans
- Employee saving0.5 / 153th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score5 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 1th |
| Lower admin cost | 13th |
| Employee saving | 3th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $20,642 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Barrett Financial Group put in about $0 per active participant, below the typical peer ($3,606). Any match is still an instant return, so contribute enough to get all of it.
- 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 (0.70% 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 | $274 |
| Participant (employee) contributions | $1,357,826 |
| Other contributions (incl. rollovers in) | $541,881 |
| Administrative expenses paid from the plan | $45,395 |
| Investment advisory & management fees | $28,742 |
| Benefits paid out | $1,395,205 |
| Net assets, start / end of year | $5.8M / $7.2M |
| Active participants, start / end of year | 622 / 883 |
| Participants with account balances | 226 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cwdl |
Largest service providers (Schedule C)
| Watts Gwilliam & Co | $28,742 reported compensation |
| Fidelity Investments Institutional | $16,719 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250925093211NAL0003446275001, received 2025-09-25, EIN 01-0628113, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.