Propharma Group 401(k) Review & Grade
Propharma Group 401(k) Plan
Raleigh, NCProfessional, Scientific & Technical Services1,987 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,098Employer $ per active participant
$6,736Employee $ saved per active participant
0.51%Direct admin cost, % of plan assets
$104.7MNet plan assets, end of year
$47,138Average balance per account
Score breakdown
- Employer generosity17.4 / 5035th percentile for employer $ per participant
- Low cost5.6 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving5.1 / 1534th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 35th |
| Lower admin cost | 22th |
| Employee saving | 34th |
| Peers that auto-enroll | 48% |
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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 ($579,818 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $7,487 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Propharma Group put in about $2,098 per active participant, below the typical peer ($3,082). 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 (0.51% 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 | $4,169,718 |
| Participant (employee) contributions | $13,383,953 |
| Other contributions (incl. rollovers in) | $1,296,591 |
| Administrative expenses paid from the plan | $497,744 |
| Contract administrator fees | $15,307 |
| Investment advisory & management fees | $276,450 |
| Benefits paid out | $11,936,147 |
| Net assets, start / end of year | $89.2M / $104.7M |
| Active participants, start / end of year | 2,242 / 1,732 |
| Participants with account balances | 2,221 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Uhy LLP |
Largest service providers (Schedule C)
| Creative Planning | $276,450 reported compensation |
| Newport Group, Inc. | $192,319 reported compensation |
| Newport Trust Company, LLC | $28,975 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015122430NAL0002284947001, received 2025-10-15, EIN 46-4258733, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.