NGP Management, LLC 401(k) Review & Grade
NGP Management, LLC 401k Plan
North Reading, MAAccommodation & Food Services1,724 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$295Employer $ per active participant
$647Employee $ saved per active participant
0.61%Direct admin cost, % of plan assets
$21.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity26.0 / 5052th percentile for employer $ per participant
- Low cost4.3 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving5.9 / 1540th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 52th |
| Lower admin cost | 17th |
| Employee saving | 40th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($36 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- NGP Management put in about $295 per active participant, more than the typical peer ($266). 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 (0.61% 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $509,388 |
| Participant (employee) contributions | $1,115,928 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $122,582 |
| Contract administrator fees | $81,606 |
| Investment advisory & management fees | $25,000 |
| Other admin expenses | $5,144 |
| Benefits paid out | $3,221,521 |
| Net assets, start / end of year | $19.4M / $21.1M |
| Active participants, start / end of year | 1,916 / 1,533 |
| Participants with account balances | 296 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ej Callahan & Associates, LLC |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $45,598 reported compensation |
| Global Retirement Partners LLC | $18,750 reported compensation |
| Wellth Advisory Services, LLC | $6,250 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001144527NAL0005986915001, received 2025-10-01, EIN 26-1655191, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.