Concentrix CVG Corporation 401(k) Review & Grade
Concentrix Retirement and Savings Plan
Cincinnati, OHManagement of Companies26,142 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$543Employer $ per active participant
$1,376Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$879.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity11.8 / 5024th percentile for employer $ per participant
- Low cost16.9 / 2568th percentile for low admin cost vs. same-size plans
- Employee saving3.0 / 1520th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 68th |
| Employee saving | 20th |
| Peers that auto-enroll | 50% |
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Red flags from the filing
Corrective distributions: the plan refunded $6,388 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Concentrix CVG put in about $543 per active participant, below the typical peer ($2,229). 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.
- 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 | $14,198,684 |
| Participant (employee) contributions | $35,962,080 |
| Other contributions (incl. rollovers in) | $3,358,486 |
| Administrative expenses paid from the plan | $463,502 |
| Other admin expenses | $35,106 |
| Benefits paid out | $104,259,709 |
| Net assets, start / end of year | $797.6M / $879.7M |
| Active participants, start / end of year | 16,747 / 35,537 |
| Participants with account balances | 8,746 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Katz Sapper & Miller, LLP |
| Employer stock held by plan | $2,103,596 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $433,535 reported compensation |
| Captrust Financial Advisors | $35,106 reported compensation |
| Wealth Management Systems Inc | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250825145728NAL0007959809001, received 2025-08-25, EIN 83-1746894, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.