Simplifi Holdings, LLC 401(k) Review & Grade
Simplifi 401(k) Profit Sharing Plan
Fort Worth, TXProfessional, Scientific & Technical Services602 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,986Employer $ per active participant
$10,085Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$60.2MNet plan assets, end of year
$84,248Average balance per account
Score breakdown
- Employer generosity39.5 / 5079th percentile for employer $ per participant
- Low cost21.3 / 2585th percentile for low admin cost vs. same-size plans
- Employee saving8.9 / 1559th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 79th |
| Lower admin cost | 85th |
| Employee saving | 59th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,456 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Simplifi Holdings put in about $5,986 per active participant, more than the typical peer ($3,082). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- 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 | $3,600,754 |
| Participant (employee) contributions | $6,065,931 |
| Other contributions (incl. rollovers in) | $788,258 |
| Administrative expenses paid from the plan | $30,066 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $21,184 |
| Benefits paid out | $2,742,970 |
| Net assets, start / end of year | $45.5M / $60.2M |
| Active participants, start / end of year | 580 / 623 |
| Participants with account balances | 715 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $21,184 reported compensation |
| Fidelity Investments Institutional | $8,882 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250925144950NAL0007743921001, received 2025-09-25, EIN 27-1828514, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.