Reimagined Parking, Inc 401(k) Review & Grade
Reimagined Parking Inc, 401k Plan
New York, NYOther Services3,852 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$330Employer $ per active participant
$549Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$24.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity9.8 / 5020th percentile for employer $ per participant
- Low cost5.9 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving0.7 / 155th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score16 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 2,500–9,999 active participants (42 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 23th |
| Employee saving | 5th |
| Peers that auto-enroll | 45% |
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Red flags from the filing
Corrective distributions: the plan refunded $378,177 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Reimagined Parking put in about $330 per active participant, below the typical peer ($1,132). 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 (0.29% of assets) are well above similar-size plans (0.12%). 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 | $1,272,877 |
| Participant (employee) contributions | $2,114,798 |
| Other contributions (incl. rollovers in) | $286,599 |
| Administrative expenses paid from the plan | $69,427 |
| Contract administrator fees | $49,010 |
| Investment advisory & management fees | $8,617 |
| Benefits paid out | $3,825,504 |
| Net assets, start / end of year | $22.6M / $24.6M |
| Active participants, start / end of year | 4,163 / 3,540 |
| Participants with account balances | 1,038 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Ameritas Life Ins Corp | $60,811 reported compensation |
| Swbc Investment Advisory Ser. LLC | $8,617 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015135911NAL0004751537001, received 2025-10-15, EIN 47-2770165, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.