Foundever Operating Corporation 401(k) Review & Grade
Foundever Operating Corporation 401(k) Plan
Nashville, TNAdministrative, Support & Staffing Services10,923 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$379Employer $ per active participant
$676Employee $ saved per active participant
0.49%Direct admin cost, % of plan assets
$105.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity29.7 / 5059th percentile for employer $ per participant
- Low cost0.9 / 254th percentile for low admin cost vs. same-size plans
- Employee saving5.6 / 1538th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 10,000+ active participants (33 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 59th |
| Lower admin cost | 4th |
| Employee saving | 38th |
| Peers that auto-enroll | 36% |
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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 ($8,594 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
- Foundever Operating put in about $379 per active participant, more than the typical peer ($271). 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 (0.49% of assets) are well above similar-size plans (0.09%). 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 | $4,143,526 |
| Participant (employee) contributions | $7,381,722 |
| Other contributions (incl. rollovers in) | $1,485,243 |
| Administrative expenses paid from the plan | $516,604 |
| Contract administrator fees | $516,604 |
| Benefits paid out | $23,972,307 |
| Net assets, start / end of year | $104.0M / $105.6M |
| Active participants, start / end of year | 12,173 / 9,673 |
| Participants with account balances | 3,274 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Lbmc, PC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $537,411 reported compensation |
| Morgan Stanley Global Banking Opera | $80,000 reported compensation |
| Lbmc, PC | $20,700 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250730172528NAL0002108947001, received 2025-07-30, EIN 16-1364816, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.