Principle Choice Solutions, LLC 401(k) Review & Grade
Principle Choice Solutions, LLC 401(k) Plan
Dumfries, VAFinance & Insurance671 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$329Employer $ per active participant
$962Employee $ saved per active participant
1.25%Direct admin cost, % of plan assets
$4.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity2.1 / 504th percentile for employer $ per participant
- Low cost1.0 / 254th percentile for low admin cost vs. same-size plans
- Employee saving0.2 / 151th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score3 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 4th |
| Lower admin cost | 4th |
| Employee saving | 1th |
| Peers that auto-enroll | 62% |
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
- Principle Choice Solutions put in about $329 per active participant, below the typical peer ($3,606). 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 (1.25% 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 | $220,971 |
| Participant (employee) contributions | $645,794 |
| Other contributions (incl. rollovers in) | $209,950 |
| Administrative expenses paid from the plan | $43,817 |
| Investment advisory & management fees | $13,481 |
| Benefits paid out | $114,737 |
| Net assets, start / end of year | $2.8M / $4.2M |
| Active participants, start / end of year | 632 / 710 |
| Participants with account balances | 222 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert LLP |
Largest service providers (Schedule C)
| Transamerica Life Insurance Company | $26,718 reported compensation |
| RBC Capital Markets LLC | $13,481 reported compensation |
| Pension Administrators LLC | $2,325 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015100747NAL0002124323001, received 2025-10-15, EIN 47-2275889, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.