Kay and Associates, Inc. 401(k) Review & Grade
Kay & Associates, Inc. Profit Sharing & Retirement Savings Plan
Buffalo Grove, ILProfessional, Scientific & Technical Services1,295 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,233Employer $ per active participant
$2,057Employee $ saved per active participant
0.61%Direct admin cost, % of plan assets
$23.1MNet plan assets, end of year
$26,802Average balance per account
Score breakdown
- Employer generosity11.4 / 5023th percentile for employer $ per participant
- Low cost4.3 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving1.6 / 1510th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score15 / 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 | 23th |
| Lower admin cost | 17th |
| Employee saving | 10th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
What to do if you're in this plan
- Kay and Associates put in about $1,233 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 (0.61% 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 | $1,596,652 |
| Participant (employee) contributions | $2,664,440 |
| Other contributions (incl. rollovers in) | $147,359 |
| Administrative expenses paid from the plan | $125,243 |
| Investment advisory & management fees | $46,278 |
| Benefits paid out | $1,823,270 |
| Net assets, start / end of year | $18.0M / $23.1M |
| Active participants, start / end of year | 1,222 / 1,368 |
| Participants with account balances | 862 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | CDH CPA, PLLC |
Largest service providers (Schedule C)
| Capital Group Retirement Plan Svcs. | $78,965 reported compensation |
| Edward Jones | $46,278 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010110049NAL0004527587001, received 2025-10-10, EIN 36-2432478, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.