New American Funding, LLC 401(k) Review & Grade
New American Funding, LLC 401(k) Plan
Tustin, CAFinance & Insurance4,042 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$338Employer $ per active participant
$4,757Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$148.5MNet plan assets, end of year
$44,556Average balance per account
Score breakdown
- Employer generosity1.5 / 503th percentile for employer $ per participant
- Low cost10.0 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 159th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score13 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 3th |
| Lower admin cost | 40th |
| Employee saving | 9th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $13,706 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- New American Funding put in about $338 per active participant, below the typical peer ($4,489). 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.
- 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.
- 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 | $1,366,855 |
| Participant (employee) contributions | $19,231,430 |
| Other contributions (incl. rollovers in) | $8,831,924 |
| Administrative expenses paid from the plan | $231,289 |
| Benefits paid out | $19,022,800 |
| Net assets, start / end of year | $121.1M / $148.5M |
| Active participants, start / end of year | 3,738 / 4,347 |
| Participants with account balances | 3,332 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Withumsmithbrown PC |
Largest service providers (Schedule C)
| Adp, Inc. | $231,289 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015162859NAL0005128641001, received 2025-10-15, EIN 01-0726495, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.