Stakeholder Payroll Services, LLC 401(k) Review & Grade
Stakeholder Payroll Services, LLC. 401(k) Plan
Louisville, KYHealth Care & Social Assistance7,974 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$15Employer $ per active participant
$1,596Employee $ saved per active participant
0.34%Direct admin cost, % of plan assets
$120.3MNet plan assets, end of year
$18,074Average balance per account
Score breakdown
- Employer generosity6.1 / 5012th percentile for employer $ per participant
- Low cost4.8 / 2519th percentile for low admin cost vs. same-size plans
- Employee saving5.3 / 1535th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score23 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 19th |
| Employee saving | 35th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $14,313 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Stakeholder Payroll Services put in about $15 per active participant, below the typical peer ($800). 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 (0.34% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $116,992 |
| Participant (employee) contributions | $12,724,901 |
| Other contributions (incl. rollovers in) | $447,739 |
| Administrative expenses paid from the plan | $399,788 |
| Investment advisory & management fees | $90,750 |
| Benefits paid out | $19,788,375 |
| Net assets, start / end of year | $113.5M / $120.3M |
| Active participants, start / end of year | 7,286 / 8,663 |
| Participants with account balances | 6,655 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $309,038 reported compensation |
| Usi Advisors Inc | $90,750 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002072605NAL0000270064001, received 2025-10-02, EIN 26-0588250, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.