The Bernard Group, Inc. 401(k) Review & Grade
The Bernard Group 401(k) Plan
Chanhassen, MNProfessional, Scientific & Technical Services916 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,511Employer $ per active participant
$5,416Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$58.2MNet plan assets, end of year
$75,432Average balance per account
Score breakdown
- Employer generosity20.8 / 5042th percentile for employer $ per participant
- Low cost13.4 / 2554th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1527th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 42th |
| Lower admin cost | 54th |
| Employee saving | 27th |
| Peers that auto-enroll | 48% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Bernard Group put in about $2,511 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $2,301,606 |
| Participant (employee) contributions | $4,963,782 |
| Other contributions (incl. rollovers in) | $828,517 |
| Administrative expenses paid from the plan | $108,415 |
| Contract administrator fees | $108,415 |
| Benefits paid out | $3,873,312 |
| Net assets, start / end of year | $47.5M / $58.2M |
| Active participants, start / end of year | 893 / 940 |
| Participants with account balances | 772 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $108,354 reported compensation |
| Christensen Group Financial, LLC | $25,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250912110223NAL0000743315001, received 2025-09-12, EIN 41-1944077, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.