Caravan Facilities Management L.L.C 401(k) Review & Grade
Caravan Facilities Management Union 401(k) Plan
Saginaw, MIAdministrative, Support & Staffing Services581 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$365Employer $ per active participant
$1,070Employee $ saved per active participant
0.84%Direct admin cost, % of plan assets
$6.2MNet plan assets, end of year
$16,539Average balance per account
Score breakdown
- Employer generosity19.0 / 5038th percentile for employer $ per participant
- Low cost2.3 / 259th percentile for low admin cost vs. same-size plans
- Employee saving5.1 / 1534th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 500–2,499 active participants (401 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 38th |
| Lower admin cost | 9th |
| Employee saving | 34th |
| Peers that auto-enroll | 27% |
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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
- Caravan Facilities Management put in about $365 per active participant, below the typical peer ($712). 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 (0.84% 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 | $212,316 |
| Participant (employee) contributions | $621,592 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $48,552 |
| Contract administrator fees | $34,750 |
| Benefits paid out | $741,591 |
| Net assets, start / end of year | $5.5M / $6.2M |
| Active participants, start / end of year | 576 / 586 |
| Participants with account balances | 372 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Rehman Robson, LLC |
Largest service providers (Schedule C)
| Great Lakes Pension Associate, Inc. | $34,750 reported compensation |
| Capital Group Retirement Plan Servi | $13,802 reported compensation |
| Capital Bank and Trust Company | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015153117NAL0002673331001, received 2025-10-15, EIN 38-3376680, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.