Cole, Scott & Kissane, P.A. 401(k) Review & Grade
Cole, Scott & Kissane, PA 401(k) Plan
Miami, FLProfessional, Scientific & Technical Services1,210 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$805Employer $ per active participant
$5,912Employee $ saved per active participant
0.35%Direct admin cost, % of plan assets
$59.3MNet plan assets, end of year
$44,115Average balance per account
Score breakdown
- Employer generosity8.8 / 5018th percentile for employer $ per participant
- Low cost8.9 / 2536th percentile for low admin cost vs. same-size plans
- Employee saving4.4 / 1529th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score29 / 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 | 18th |
| Lower admin cost | 36th |
| Employee saving | 29th |
| Peers that auto-enroll | 48% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $235 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Cole, Scott & Kissane, P.A. put in about $805 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 (0.35% 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $973,720 |
| Participant (employee) contributions | $7,151,076 |
| Other contributions (incl. rollovers in) | $365,331 |
| Administrative expenses paid from the plan | $183,645 |
| Investment advisory & management fees | $94,681 |
| Benefits paid out | $3,314,265 |
| Net assets, start / end of year | $47.0M / $59.3M |
| Active participants, start / end of year | 1,223 / 1,196 |
| Participants with account balances | 1,345 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | De La Hoz, Perez & Barbeito, PLLC |
Largest service providers (Schedule C)
| Truist Bank | $94,681 reported compensation |
| Schwab Retirement Plan Services,inc | $89,039 reported compensation |
| Charles Schwab & Co., Inc. | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014140907NAL0004183584001, received 2025-10-14, EIN 62-0792149, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.