Factory Connection, LLC 401(k) Review & Grade
Employee Benefit Plan of Factory Connection, LLC
Guntersville, ALRetail Trade523 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$67Employer $ per active participant
$673Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$6.3MNet plan assets, end of year
$14,697Average balance per account
Score breakdown
- Employer generosity4.5 / 509th percentile for employer $ per participant
- Low cost22.2 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving1.2 / 158th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 9th |
| Lower admin cost | 89th |
| Employee saving | 8th |
| 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
- Factory Connection put in about $67 per active participant, below the typical peer ($743). 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.
- 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 | $35,188 |
| Participant (employee) contributions | $351,864 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $2,747 |
| Other admin expenses | $2,747 |
| Benefits paid out | $616,456 |
| Net assets, start / end of year | $5.7M / $6.3M |
| Active participants, start / end of year | 556 / 490 |
| Participants with account balances | 430 |
| Auto-enrollment (feature code 2S) | Yes |
Largest service providers (Schedule C)
| Mutual of America Investment Corp | $5,644 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250711083748NAL0009359424001, received 2025-07-11, EIN 90-0142088, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.