KLS Martin L.P. 401(k) Review & Grade
KLS Martin L.P. 401(k) Salary Reduction Plan & Trust
Jacksonville, FLWholesale Trade713 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,525Employer $ per active participant
$6,608Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$70.2MNet plan assets, end of year
$92,555Average balance per account
Score breakdown
- Employer generosity33.2 / 5066th percentile for employer $ per participant
- Low cost21.4 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score76 / 100 · Grade A
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 66th |
| Lower admin cost | 86th |
| Employee saving | 75th |
| 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
- KLS Martin L.P. put in about $2,525 per active participant, more than the typical peer ($1,792). 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.
- 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,800,000 |
| Participant (employee) contributions | $4,711,675 |
| Other contributions (incl. rollovers in) | $30,440 |
| Administrative expenses paid from the plan | $35,281 |
| Other admin expenses | $35,281 |
| Benefits paid out | $5,026,966 |
| Net assets, start / end of year | $57.4M / $70.2M |
| Active participants, start / end of year | 658 / 768 |
| Participants with account balances | 758 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Erwin, Fountain & Jackson, P.A. |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $56,257 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250925145044NAL0010634259001, received 2025-09-25, EIN 59-3213685, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.