Palm Beach Tan Inc. 401(k) Review & Grade
Palm Beach Tan Inc. 401k Plan
Irving, TXRetail Trade1,077 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$274Employer $ per active participant
$546Employee $ saved per active participant
0.61%Direct admin cost, % of plan assets
$11.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity10.0 / 5020th percentile for employer $ per participant
- Low cost4.3 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving0.9 / 156th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 17th |
| Employee saving | 6th |
| Peers that auto-enroll | 48% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Palm Beach Tan put in about $274 per active participant, below the typical peer ($743). 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 (0.61% 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.
- 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 | $295,572 |
| Participant (employee) contributions | $587,725 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $64,311 |
| Investment advisory & management fees | $39,695 |
| Benefits paid out | $722,607 |
| Net assets, start / end of year | $9.8M / $11.3M |
| Active participants, start / end of year | 477 / 1,677 |
| Participants with account balances | 139 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| NFP Retirement Inc | $35,595 reported compensation |
| Fidelity Investments Institutional | $24,616 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250729151639NAL0007951954001, received 2025-07-29, EIN 75-2338010, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.