Boynton Canyon Management Co DBA Enchantment 401(k) Review & Grade
Boynton Canyon Management Co. 401(k) Plan
Sedona, AZAccommodation & Food Services650 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$444Employer $ per active participant
$1,333Employee $ saved per active participant
0.61%Direct admin cost, % of plan assets
$10.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity33.9 / 5068th percentile for employer $ per participant
- Low cost4.3 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving10.8 / 1572th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 68th |
| Lower admin cost | 17th |
| Employee saving | 72th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Corrective distributions: the plan refunded $45,538 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Boynton Canyon Management Co DBA Enchantment put in about $444 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 (0.61% 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 | $288,242 |
| Participant (employee) contributions | $866,072 |
| Other contributions (incl. rollovers in) | $21,809 |
| Administrative expenses paid from the plan | $60,522 |
| Contract administrator fees | $60,522 |
| Benefits paid out | $621,553 |
| Net assets, start / end of year | $9.2M / $10.8M |
| Active participants, start / end of year | 629 / 670 |
| Participants with account balances | 199 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Eide Bailly LLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $60,522 reported compensation |
| Global Retirement Partners LLC | $23,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008090726NAL0005312401001, received 2025-10-08, EIN 20-5927322, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.