Square One Concepts, Inc. 401(k) Review & Grade
Square One Concepts, Inc. 401(k) Plan
Scottsdale, AZAccommodation & Food Services573 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$225Employer $ per active participant
$1,414Employee $ saved per active participant
2.73%Direct admin cost, % of plan assets
$1.8MNet plan assets, end of year
$3,279Average balance per account
Score breakdown
- Employer generosity22.3 / 5045th percentile for employer $ per participant
- Low cost0.2 / 251th percentile for low admin cost vs. same-size plans
- Employee saving11.2 / 1574th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 1th |
| Employee saving | 74th |
| Peers that auto-enroll | 17% |
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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 ($12,757 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
- Square One Concepts put in about $225 per active participant, below the typical peer ($266). 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 (2.73% 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 | $128,835 |
| Participant (employee) contributions | $810,394 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $35,953 |
| Contract administrator fees | $13,927 |
| Investment advisory & management fees | $10,429 |
| Other admin expenses | $11,597 |
| Benefits paid out | $175,117 |
| Net assets, start / end of year | $867,130 / $1.8M |
| Active participants, start / end of year | 596 / 550 |
| Participants with account balances | 539 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Kimberlin Company, PLLC |
Largest service providers (Schedule C)
| PFG Advisors, LLC | $10,429 reported compensation |
| John Hancock Life Insurance Company | $7,022 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002123640NAL0000787840001, received 2025-10-02, EIN 27-4539075, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.