Solomon Realty Advisors, Inc. 401(k) Review & Grade
Solomon Realty Advisors, Inc.401 (K) Profit Sharing Plan
Summit, NJReal Estate & Rental618 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,071Employer $ per active participant
$3,134Employee $ saved per active participant
1.19%Direct admin cost, % of plan assets
$15.5MNet plan assets, end of year
$22,360Average balance per account
Score breakdown
- Employer generosity21.9 / 5044th percentile for employer $ per participant
- Low cost1.1 / 255th percentile for low admin cost vs. same-size plans
- Employee saving6.6 / 1544th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score30 / 100 · Grade D
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 5th |
| Employee saving | 44th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($1,932 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
- Solomon Realty Advisors put in about $1,071 per active participant, below the typical peer ($1,279). 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 (1.19% of assets) are well above similar-size plans (0.23%). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $661,703 |
| Participant (employee) contributions | $1,937,044 |
| Other contributions (incl. rollovers in) | $235,598 |
| Administrative expenses paid from the plan | $163,479 |
| Contract administrator fees | $163,479 |
| Benefits paid out | $885,247 |
| Net assets, start / end of year | $12.0M / $15.5M |
| Active participants, start / end of year | 604 / 632 |
| Participants with account balances | 691 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lilling & Company LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $138,943 reported compensation |
| Orenda Retirement, LLC | $36,083 reported compensation |
| Northwestern Mutual Investment Serv | $32,380 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008144121NAL0006012081001, received 2025-10-08, EIN 22-2867476, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.