Nan Mckay and Associates, Inc. 401(k) Review & Grade
Nan Mckay and Associates, Inc. 401(k) Profit Sharing Plan
El Cajon, CAInformation688 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,909Employer $ per active participant
$1,667Employee $ saved per active participant
0.58%Direct admin cost, % of plan assets
$27.0MNet plan assets, end of year
$59,767Average balance per account
Score breakdown
- Employer generosity25.9 / 5052th percentile for employer $ per participant
- Low cost4.6 / 2519th percentile for low admin cost vs. same-size plans
- Employee saving0.7 / 155th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 52th |
| Lower admin cost | 19th |
| Employee saving | 5th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $57,947 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Nan Mckay and Associates put in about $2,909 per active participant, more than the typical peer ($2,829). 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 (0.58% 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 | $2,000,000 |
| Participant (employee) contributions | $1,146,104 |
| Other contributions (incl. rollovers in) | $781,251 |
| Administrative expenses paid from the plan | $142,739 |
| Contract administrator fees | $88,226 |
| Investment advisory & management fees | $54,513 |
| Benefits paid out | $1,784,835 |
| Net assets, start / end of year | $22.3M / $27.0M |
| Active participants, start / end of year | 728 / 647 |
| Participants with account balances | 451 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Lee CPA Audit Group |
Largest service providers (Schedule C)
| John Hancock | $88,226 reported compensation |
| Resources Investment Advisors, Inc. | $54,513 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250804173203NAL0001361696001, received 2025-08-04, EIN 41-1381008, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.