Thrive Communities Management, LLC 401(k) Review & Grade
Thrive Communities 401(k) Plan
Seattle, WAReal Estate & Rental701 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,956Employer $ per active participant
$4,914Employee $ saved per active participant
0.85%Direct admin cost, % of plan assets
$20.0MNet plan assets, end of year
$21,143Average balance per account
Score breakdown
- Employer generosity34.1 / 5068th percentile for employer $ per participant
- Low cost2.3 / 259th percentile for low admin cost vs. same-size plans
- Employee saving9.9 / 1566th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score53 / 100 · Grade C
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 68th |
| Lower admin cost | 9th |
| Employee saving | 66th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Corrective distributions: the plan refunded $10,951 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Thrive Communities Management put in about $1,956 per active participant, more than the typical peer ($1,279). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 (0.85% 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.
- 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 | $1,371,499 |
| Participant (employee) contributions | $3,444,479 |
| Other contributions (incl. rollovers in) | $182,294 |
| Administrative expenses paid from the plan | $149,180 |
| Investment advisory & management fees | $29,355 |
| Benefits paid out | $2,292,617 |
| Net assets, start / end of year | $15.2M / $20.0M |
| Active participants, start / end of year | 622 / 780 |
| Participants with account balances | 946 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas PC. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $103,075 reported compensation |
| Capfinancial Partners LLC | $20,415 reported compensation |
| Cbiz MHM LLC | $16,750 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250926111237NAL0009341217001, received 2025-09-26, EIN 47-3242364, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.