South University Savannah, LLC 401(k) Review & Grade
South University Retirement Plan
Savannah, GAEducational Services2,312 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$440Employer $ per active participant
$1,582Employee $ saved per active participant
0.65%Direct admin cost, % of plan assets
$31.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity8.0 / 5016th percentile for employer $ per participant
- Low cost3.8 / 2515th percentile for low admin cost vs. same-size plans
- Employee saving3.3 / 1522th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 15th |
| Employee saving | 22th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $34,538 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- South University Savannah put in about $440 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.
- Direct plan expenses (0.65% 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.
- 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 | $1,017,788 |
| Participant (employee) contributions | $3,657,639 |
| Other contributions (incl. rollovers in) | $396,041 |
| Administrative expenses paid from the plan | $186,494 |
| Investment advisory & management fees | $53,808 |
| Other admin expenses | $4,370 |
| Benefits paid out | $2,790,708 |
| Net assets, start / end of year | $25.9M / $31.7M |
| Active participants, start / end of year | 2,293 / 2,330 |
| Participants with account balances | 969 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Symphona LLP |
Largest service providers (Schedule C)
| Sentinel Benefits Group, LLC | $121,776 reported compensation |
| The Fiduciary Group | $53,809 reported compensation |
| Fidelity Investments | $10,910 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250821151731NAL0002166435001, received 2025-08-21, EIN 82-1659323, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.