Ifit Inc. 401(k) Review & Grade
Ifit Inc. 401(k) Plan
Logan, UTWholesale Trade778 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,767Employer $ per active participant
$6,829Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$76.6MNet plan assets, end of year
$81,031Average balance per account
Score breakdown
- Employer generosity24.7 / 5049th percentile for employer $ per participant
- Low cost10.2 / 2541th percentile for low admin cost vs. same-size plans
- Employee saving11.6 / 1577th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 49th |
| Lower admin cost | 41th |
| Employee saving | 77th |
| Peers that auto-enroll | 53% |
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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
- Ifit put in about $1,767 per active participant, below the typical peer ($1,792). 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.
- 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 | $1,375,230 |
| Participant (employee) contributions | $5,316,754 |
| Other contributions (incl. rollovers in) | $1,199,653 |
| Administrative expenses paid from the plan | $217,166 |
| Investment advisory & management fees | $110,037 |
| Other admin expenses | $11,397 |
| Benefits paid out | $11,089,480 |
| Net assets, start / end of year | $69.0M / $76.6M |
| Active participants, start / end of year | 812 / 745 |
| Participants with account balances | 945 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Armanino LLP |
Largest service providers (Schedule C)
| Global Retirement Partners LLC | $110,037 reported compensation |
| Merrill Lynch, Pierce, Fenner and S | $78,932 reported compensation |
| Cooper Savas | $16,800 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015233748NAL0011844978001, received 2025-10-16, EIN 87-0531206, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.