Canon Business Process Services, Inc. 401(k) Review & Grade
Canon Business Process Services Retirement and Investment Plan
New York, NYWholesale Trade1,269 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,685Employer $ per active participant
$4,737Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$151.9MNet plan assets, end of year
$82,419Average balance per account
Score breakdown
- Employer generosity34.6 / 5069th percentile for employer $ per participant
- Low cost18.8 / 2575th percentile for low admin cost vs. same-size plans
- Employee saving7.7 / 1551th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 69th |
| Lower admin cost | 75th |
| Employee saving | 51th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Canon Business Process Services put in about $2,685 per active participant, more than the typical peer ($1,792). 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.
- 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 | $3,407,542 |
| Participant (employee) contributions | $6,011,298 |
| Other contributions (incl. rollovers in) | $1,546,938 |
| Administrative expenses paid from the plan | $142,199 |
| Investment advisory & management fees | $52,657 |
| Benefits paid out | $22,559,351 |
| Net assets, start / end of year | $146.2M / $151.9M |
| Active participants, start / end of year | 1,291 / 1,247 |
| Participants with account balances | 1,843 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Grant Thornton LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $99,501 reported compensation |
| Vanguard Advisers Inc. | $52,657 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015151306NAL0002525651001, received 2025-10-15, EIN 13-3978583, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.