Rite of Passage, Inc. 401(k) Review & Grade
Rite of Passage, Inc. 401k Plan
Minden, NVProfessional, Scientific & Technical Services1,248 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,449Employer $ per active participant
$1,790Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$34.3MNet plan assets, end of year
$47,569Average balance per account
Score breakdown
- Employer generosity12.9 / 5026th percentile for employer $ per participant
- Low cost13.3 / 2553th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 159th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score21 / 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 | 26th |
| Lower admin cost | 53th |
| Employee saving | 9th |
| 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
Late deposits: the filing says some employee contributions were not sent to the plan on time ($99,486 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
- Rite of Passage put in about $1,449 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.
- 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 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 | $1,808,625 |
| Participant (employee) contributions | $2,234,451 |
| Other contributions (incl. rollovers in) | $124,318 |
| Administrative expenses paid from the plan | $68,073 |
| Investment advisory & management fees | $68,073 |
| Benefits paid out | $4,686,261 |
| Net assets, start / end of year | $31.3M / $34.3M |
| Active participants, start / end of year | 1,264 / 1,232 |
| Participants with account balances | 721 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Farber Hass Hurley LLP |
Largest service providers (Schedule C)
| Lincoln Investment Planning | $97,580 reported compensation |
| Nationwide | $80,284 reported compensation |
| Norton Retirement Services, Inc. | $41,841 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007100421NAL0002566915001, received 2025-10-07, EIN 88-0235002, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.