I Am Boundless, Inc. 401(k) Review & Grade
I Am Boundless, Inc. 401(k) Profit Sharing Plan
Worthington, OHHealth Care & Social Assistance1,806 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$668Employer $ per active participant
$1,015Employee $ saved per active participant
1.12%Direct admin cost, % of plan assets
$13.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity20.5 / 5041th percentile for employer $ per participant
- Low cost1.3 / 255th percentile for low admin cost vs. same-size plans
- Employee saving3.3 / 1522th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 5th |
| Employee saving | 22th |
| Peers that auto-enroll | 36% |
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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
- I Am Boundless put in about $668 per active participant, below the typical peer ($976). 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 (1.12% 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.
- 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 | $1,205,995 |
| Participant (employee) contributions | $1,833,649 |
| Other contributions (incl. rollovers in) | $1,028,443 |
| Administrative expenses paid from the plan | $128,016 |
| Contract administrator fees | $44,894 |
| Investment advisory & management fees | $59,740 |
| Other admin expenses | $23,382 |
| Benefits paid out | $1,558,063 |
| Net assets, start / end of year | $9.7M / $13.3M |
| Active participants, start / end of year | 1,696 / 1,916 |
| Participants with account balances | 614 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Citrin Cooperman & Company LLP |
Largest service providers (Schedule C)
| Gallagher Fiduciar Advisors, LLC | $59,740 reported compensation |
| Nationwide | $44,894 reported compensation |
| Integrity Plans LLC | $23,382 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015165701NAL0002782067001, received 2025-10-15, EIN 90-0817260, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.