Boomi, LP 401(k) Review & Grade
Boomi, LP 401(k) Plan
Conshohocken, PAProfessional, Scientific & Technical Services870 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$6,699Employer $ per active participant
$15,405Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$152.8MNet plan assets, end of year
$139,202Average balance per account
Score breakdown
- Employer generosity41.4 / 5083th percentile for employer $ per participant
- Low cost21.9 / 2588th percentile for low admin cost vs. same-size plans
- Employee saving13.4 / 1589th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 88th |
| Employee saving | 89th |
| Peers that auto-enroll | 48% |
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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 ($6,705 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $3,336 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Boomi, LP put in about $6,699 per active participant, more than the typical peer ($3,082). 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 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 | $5,828,541 |
| Participant (employee) contributions | $13,402,272 |
| Other contributions (incl. rollovers in) | $4,725,117 |
| Administrative expenses paid from the plan | $69,982 |
| Investment advisory & management fees | $16,225 |
| Benefits paid out | $23,046,941 |
| Net assets, start / end of year | $131.6M / $152.8M |
| Active participants, start / end of year | 863 / 877 |
| Participants with account balances | 1,098 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Armanino LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $53,757 reported compensation |
| Usi Advisors Inc | $16,225 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010155135NAL0008428145001, received 2025-10-10, EIN 23-3016018, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.