School of Visual Arts LLC 401(k) Review & Grade
School of Visual Arts LLC Savings Or Cash Option
New York, NYEducational Services1,667 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,064Employer $ per active participant
$2,890Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$137.4MNet plan assets, end of year
$128,394Average balance per account
Score breakdown
- Employer generosity21.3 / 5043th percentile for employer $ per participant
- Low cost22.7 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving8.7 / 1558th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-10 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 91th |
| Employee saving | 58th |
| Peers that auto-enroll | 37% |
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 ($779,908 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
- School of Visual Arts put in about $1,064 per active participant, below the typical peer ($1,225). 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 | $1,774,519 |
| Participant (employee) contributions | $4,817,724 |
| Other contributions (incl. rollovers in) | $362,953 |
| Administrative expenses paid from the plan | $48,329 |
| Contract administrator fees | $11,600 |
| Investment advisory & management fees | $35,329 |
| Other admin expenses | $1,400 |
| Benefits paid out | $9,110,721 |
| Net assets, start / end of year | $119.8M / $137.4M |
| Active participants, start / end of year | 1,655 / 1,679 |
| Participants with account balances | 1,070 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Grant Thornton LLP |
Largest service providers (Schedule C)
| Voya Retirement Advisors, LLC | $35,203 reported compensation |
| Voya Retirement Insurance & Annuity | $13,125 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015162645NAL0005123825001, received 2025-10-15, EIN 81-1603186, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.