Tep Holdings, LLC 401(k) Review & Grade
Tep Holdings 401(k) Plan
Raleigh, NCProfessional, Scientific & Technical Services917 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,890Employer $ per active participant
$3,449Employee $ saved per active participant
0.54%Direct admin cost, % of plan assets
$38.9MNet plan assets, end of year
$34,850Average balance per account
Score breakdown
- Employer generosity16.2 / 5032th percentile for employer $ per participant
- Low cost5.2 / 2521th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 32th |
| Lower admin cost | 21th |
| Employee saving | 18th |
| Peers that auto-enroll | 48% |
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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
- Tep Holdings put in about $1,890 per active participant, below the typical peer ($3,082). 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 (0.54% 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 | $1,733,341 |
| Participant (employee) contributions | $3,162,891 |
| Other contributions (incl. rollovers in) | $180,689 |
| Administrative expenses paid from the plan | $190,817 |
| Contract administrator fees | $18,785 |
| Investment advisory & management fees | $72,005 |
| Benefits paid out | $3,644,935 |
| Net assets, start / end of year | $32.3M / $38.9M |
| Active participants, start / end of year | 855 / 979 |
| Participants with account balances | 1,115 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Kimberlin Company, PLLC |
Largest service providers (Schedule C)
| Merrill Lynch | $72,005 reported compensation |
| John Hancock Life Insurance Company | $19,896 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250620113711NAL0003847809001, received 2025-06-20, EIN 47-2397460, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.