Founders National Golf LLC 401(k) Review & Grade
Founders National Golf LLC 401(k) Profit Sharing
Myrtle Beach, SCProfessional, Scientific & Technical Services1,240 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$130Employer $ per active participant
$471Employee $ saved per active participant
0.72%Direct admin cost, % of plan assets
$7.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity3.8 / 508th percentile for employer $ per participant
- Low cost3.1 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving0.4 / 153th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score0 / 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 | 8th |
| Lower admin cost | 12th |
| Employee saving | 3th |
| Peers that auto-enroll | 48% |
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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 ($29,199 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $985 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Founders National Golf put in about $130 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 (0.72% 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 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 | $161,430 |
| Participant (employee) contributions | $584,279 |
| Other contributions (incl. rollovers in) | $36,598 |
| Administrative expenses paid from the plan | $51,520 |
| Contract administrator fees | $50,720 |
| Other admin expenses | $800 |
| Benefits paid out | $307,729 |
| Net assets, start / end of year | $6.5M / $7.9M |
| Active participants, start / end of year | 1,219 / 1,260 |
| Participants with account balances | 315 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Elliott Group Cpas, PLLC |
Largest service providers (Schedule C)
| Voya Retirement Insurance & Annuity | $51,520 reported compensation |
| Wealth Enhancement Advisory Service | $18,311 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250715155231NAL0001754531001, received 2025-07-15, EIN 47-3024061, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.