Softchoice Corporation 401(k) Review & Grade
Softchoice Corporation 401(k) Plan
Maryland Heights, MOProfessional, Scientific & Technical Services501 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,413Employer $ per active participant
$10,514Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$68.3MNet plan assets, end of year
$93,522Average balance per account
Score breakdown
- Employer generosity28.2 / 5056th percentile for employer $ per participant
- Low cost11.9 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving9.5 / 1563th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score60 / 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 | 56th |
| Lower admin cost | 48th |
| Employee saving | 63th |
| 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
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Softchoice put in about $3,413 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,710,020 |
| Participant (employee) contributions | $5,267,434 |
| Other contributions (incl. rollovers in) | $553,151 |
| Administrative expenses paid from the plan | $158,693 |
| Investment advisory & management fees | $77,182 |
| Benefits paid out | $7,645,377 |
| Net assets, start / end of year | $59.8M / $68.3M |
| Active participants, start / end of year | 488 / 514 |
| Participants with account balances | 730 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $81,511 reported compensation |
| Gallagher Benefit Services Inc DBA | $63,789 reported compensation |
| Empower Advisory Group, LLC | $13,393 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014093819NAL0005308130001, received 2025-10-14, EIN 13-3827773, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.