Otter Learning, LLC 401(k) Review & Grade
Otter Learning 401(k) Plan
North Charleston, SCHealth Care & Social Assistance734 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500-SF filing · How we grade
$42Employer $ per active participant
$206Employee $ saved per active participant
0.54%Direct admin cost, % of plan assets
$461,153Net plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity5.8 / 5012th percentile for employer $ per participant
- Low cost5.2 / 2521th percentile for low admin cost vs. same-size plans
- Employee saving0.6 / 154th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 21th |
| Employee saving | 4th |
| Peers that auto-enroll | 36% |
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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
- Otter Learning put in about $42 per active participant, below the typical peer ($976). 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 (0.54% 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 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 | $30,499 |
| Participant (employee) contributions | $151,095 |
| Other contributions (incl. rollovers in) | $220,746 |
| Administrative expenses paid from the plan | $1,358 |
| Benefits paid out | $16,002 |
| Net assets, start / end of year | $45,602 / $461,153 |
| Active participants, start / end of year | 215 / 1,252 |
| Participants with account balances | 141 |
| Auto-enrollment (feature code 2S) | Yes |
Source: DOL EFAST2 Form 5500-SF filing, acknowledgment ID 20250930144025NAL0015040464001, received 2025-09-30, EIN 83-4611159, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.