NCL Acquisition Corporation DBA Elevation Labs 401(k) Review & Grade
Elevation Labs 401(k) Plan
Idaho Falls, IDManufacturing560 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$966Employer $ per active participant
$1,973Employee $ saved per active participant
1.21%Direct admin cost, % of plan assets
$9.4MNet plan assets, end of year
$22,544Average balance per account
Score breakdown
- Employer generosity8.0 / 5016th percentile for employer $ per participant
- Low cost1.1 / 254th percentile for low admin cost vs. same-size plans
- Employee saving1.7 / 1511th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score11 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 4th |
| Employee saving | 11th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $13,555 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- NCL Acquisition Corporation DBA Elevation Labs put in about $966 per active participant, below the typical peer ($2,320). 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 (1.21% 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 | $541,113 |
| Participant (employee) contributions | $1,104,917 |
| Other contributions (incl. rollovers in) | $779,672 |
| Administrative expenses paid from the plan | $102,472 |
| Investment advisory & management fees | $40,138 |
| Other admin expenses | $15,785 |
| Benefits paid out | $1,357,238 |
| Net assets, start / end of year | $7.6M / $9.4M |
| Active participants, start / end of year | 565 / 555 |
| Participants with account balances | 416 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Poston Denney & Killpack, PLLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $46,224 reported compensation |
| Creative Planning LLC | $40,138 reported compensation |
| KL Bronco Holdings Inc DBA Elevatio | $15,785 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922101024NAL0002088147001, received 2025-09-22, EIN 46-4952901, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.