Fragomen, Del Rey, Bernsen & Loewy, LLP 401(k) Review & Grade
Fragomen, Del Rey, Bernsen & Loewy, LLP 401(k) Profit Sharing Plan
Matawan, NJProfessional, Scientific & Technical Services2,531 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,450Employer $ per active participant
$8,853Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$345.4MNet plan assets, end of year
$120,042Average balance per account
Score breakdown
- Employer generosity12.8 / 5026th percentile for employer $ per participant
- Low cost10.3 / 2541th percentile for low admin cost vs. same-size plans
- Employee saving7.2 / 1548th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score23 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 26th |
| Lower admin cost | 41th |
| Employee saving | 48th |
| Peers that auto-enroll | 47% |
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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 ($107,016 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
- Fragomen, Del Rey, Bernsen & Loewy, LLP put in about $1,450 per active participant, below the typical peer ($2,951). 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 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 | $3,671,022 |
| Participant (employee) contributions | $22,408,108 |
| Other contributions (incl. rollovers in) | $2,793,864 |
| Administrative expenses paid from the plan | $521,338 |
| Investment advisory & management fees | $147,070 |
| Benefits paid out | $27,279,844 |
| Net assets, start / end of year | $297.2M / $345.4M |
| Active participants, start / end of year | 2,543 / 2,519 |
| Participants with account balances | 2,877 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $339,618 reported compensation |
| Capfinancial Partners LLC DBA Captr | $147,070 reported compensation |
| Mcgladrey LLP | $34,650 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015122724NAL0002287651001, received 2025-10-15, EIN 13-2726464, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.