Cenexel Clinical Research, Inc. 401(k) Review & Grade
Cenexel Clinical Research, Inc. 401(k) Plan
Salt Lake City, UTProfessional, Scientific & Technical Services992 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$485Employer $ per active participant
$2,885Employee $ saved per active participant
0.86%Direct admin cost, % of plan assets
$13.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity6.6 / 5013th percentile for employer $ per participant
- Low cost2.2 / 259th percentile for low admin cost vs. same-size plans
- Employee saving2.1 / 1514th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score1 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 9th |
| Employee saving | 14th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Auditor concern: the independent auditor gave a qualified or adverse opinion.
Corrective distributions: the plan refunded $28,974 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Cenexel Clinical Research put in about $485 per active participant, below the typical peer ($3,082). 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 (0.86% 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 | $480,879 |
| Participant (employee) contributions | $2,862,222 |
| Other contributions (incl. rollovers in) | $139,003 |
| Administrative expenses paid from the plan | $101,716 |
| Contract administrator fees | $101,716 |
| Benefits paid out | $1,245,206 |
| Net assets, start / end of year | $10.1M / $13.6M |
| Active participants, start / end of year | 1,016 / 968 |
| Participants with account balances | 456 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Camden Bilello |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $101,715 reported compensation |
| Alera Investment Advisors, LLC | $26,754 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015112550NAL0002322803001, received 2025-10-15, EIN 83-1353724, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.