Jim Ellis Atlanta, Inc. 401(k) Review & Grade
Jim Ellis Atlanta, Inc. 401(k) Plan
Atlanta, GARetail Trade1,374 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,176Employer $ per active participant
$4,714Employee $ saved per active participant
0.41%Direct admin cost, % of plan assets
$62.4MNet plan assets, end of year
$41,076Average balance per account
Score breakdown
- Employer generosity34.1 / 5068th percentile for employer $ per participant
- Low cost7.5 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving11.6 / 1577th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 68th |
| Lower admin cost | 30th |
| Employee saving | 77th |
| 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 ($62,892 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $6,635 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Jim Ellis Atlanta put in about $1,176 per active participant, more than the typical peer ($743). 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 (0.41% 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 | $1,616,423 |
| Participant (employee) contributions | $6,477,177 |
| Other contributions (incl. rollovers in) | $390,222 |
| Administrative expenses paid from the plan | $234,031 |
| Contract administrator fees | $234,031 |
| Benefits paid out | $6,160,217 |
| Net assets, start / end of year | $53.1M / $62.4M |
| Active participants, start / end of year | 1,395 / 1,353 |
| Participants with account balances | 1,520 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ross Lane & Co. LLC |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions, | $97,015 reported compensation |
| Onedigital Investment Advisors | $67,467 reported compensation |
| Futureplan by Ascensus | $54,817 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250813105227NAL0020037506001, received 2025-08-13, EIN 58-1500444, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.