Gama Aviation (engineering) Inc. 401(k) Review & Grade
Jet East Gama 401(k) Plan
FT. Lauderdale, FLProfessional, Scientific & Technical Services790 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,844Employer $ per active participant
$5,777Employee $ saved per active participant
0.37%Direct admin cost, % of plan assets
$34.0MNet plan assets, end of year
$48,167Average balance per account
Score breakdown
- Employer generosity23.1 / 5046th percentile for employer $ per participant
- Low cost8.3 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving4.3 / 1529th 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: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 33th |
| Employee saving | 29th |
| 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 ($6,706,767 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
- Gama Aviation (engineering) put in about $2,844 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 (0.37% 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 | $2,246,931 |
| Participant (employee) contributions | $4,563,791 |
| Other contributions (incl. rollovers in) | $484,718 |
| Administrative expenses paid from the plan | $111,688 |
| Contract administrator fees | $111,688 |
| Benefits paid out | $3,932,565 |
| Net assets, start / end of year | $26.7M / $34.0M |
| Active participants, start / end of year | 757 / 823 |
| Participants with account balances | 705 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Armanino LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $74,765 reported compensation |
| Morgan Stanley Global | $52,358 reported compensation |
| Red Bank Pension Services, Inc. | $8,900 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014142951NAL0001546691001, received 2025-10-14, EIN 46-0902208, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.