Evereve Incorporated 401(k) Review & Grade
Evereve 401(k) Plan
Edina, MNRetail Trade600 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,713Employer $ per active participant
$3,111Employee $ saved per active participant
0.41%Direct admin cost, % of plan assets
$17.1MNet plan assets, end of year
$48,291Average balance per account
Score breakdown
- Employer generosity39.9 / 5080th percentile for employer $ per participant
- Low cost7.5 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 80th |
| Lower admin cost | 30th |
| Employee saving | 52th |
| Peers that auto-enroll | 48% |
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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
- Evereve Incorporated put in about $1,713 per active participant, more than the typical peer ($743). 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.
- Direct plan expenses (0.41% 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 | $1,027,048 |
| Participant (employee) contributions | $1,864,803 |
| Other contributions (incl. rollovers in) | $135,762 |
| Administrative expenses paid from the plan | $60,857 |
| Contract administrator fees | $4,630 |
| Investment advisory & management fees | $27,369 |
| Other admin expenses | $8,511 |
| Benefits paid out | $520,083 |
| Net assets, start / end of year | $12.8M / $17.1M |
| Active participants, start / end of year | 585 / 614 |
| Participants with account balances | 354 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Boulay Pllp |
Largest service providers (Schedule C)
| Wilshire Associates Incorporated | $25,469 reported compensation |
| T. Rowe Price Trust Company | $22,247 reported compensation |
| DWC Erisa Consultants LLC | $4,630 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009105831NAL0006482401001, received 2025-10-09, EIN 56-2395766, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.