Place Business Service, Inc. 401(k) Review & Grade
Place Business Service, Inc. 401(k) Plan
Bellingham, WAReal Estate & Rental1,092 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4Employer $ per active participant
$2,507Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$50.0MNet plan assets, end of year
$26,997Average balance per account
Score breakdown
- Employer generosity1.9 / 504th percentile for employer $ per participant
- Low cost17.4 / 2570th percentile for low admin cost vs. same-size plans
- Employee saving5.3 / 1535th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score25 / 100 · Grade F
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 4th |
| Lower admin cost | 70th |
| Employee saving | 35th |
| Peers that auto-enroll | 47% |
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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 ($383,966 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
- Place Business Service put in about $4 per active participant, below the typical peer ($1,279). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $4,216 |
| Participant (employee) contributions | $2,738,127 |
| Other contributions (incl. rollovers in) | $553,439 |
| Administrative expenses paid from the plan | $35,825 |
| Contract administrator fees | $35,825 |
| Benefits paid out | $1,094,753 |
| Net assets, start / end of year | $9.6M / $50.0M |
| Active participants, start / end of year | 761 / 1,423 |
| Participants with account balances | 1,852 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | C Dart CPA |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $32,683 reported compensation |
| John Hancock Retirement Plan Srvcs | $3,142 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260320170737NAL0005275185001, received 2026-03-20, EIN 81-1038094, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.