Day 1 Academies 401(k) Review & Grade
Day 1 Academies 401(k) Plan
Mercer Island, WAEducational Services556 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,012Employer $ per active participant
$5,749Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$14.3MNet plan assets, end of year
$29,386Average balance per account
Score breakdown
- Employer generosity41.6 / 5083th percentile for employer $ per participant
- Low cost19.5 / 2578th percentile for low admin cost vs. same-size plans
- Employee saving12.4 / 1583th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 78th |
| Employee saving | 83th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($8,204 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Day 1 Academies put in about $3,012 per active participant, more than the typical peer ($1,225). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,672,970 |
| Participant (employee) contributions | $3,193,597 |
| Other contributions (incl. rollovers in) | $816,272 |
| Administrative expenses paid from the plan | $9,721 |
| Contract administrator fees | $9,721 |
| Benefits paid out | $1,164,126 |
| Net assets, start / end of year | $8.6M / $14.3M |
| Active participants, start / end of year | 483 / 628 |
| Participants with account balances | 488 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $9,721 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008092336NAL0005618273001, received 2025-10-08, EIN 84-3907778, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.