Torgerson Properties, Inc. DBA Tpi Hospitality 401(k) Review & Grade
Torgerson Properties Retirement Savings Plan
Willmar, MNAccommodation & Food Services624 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$581Employer $ per active participant
$1,559Employee $ saved per active participant
0.51%Direct admin cost, % of plan assets
$16.5MNet plan assets, end of year
$29,850Average balance per account
Score breakdown
- Employer generosity37.6 / 5075th percentile for employer $ per participant
- Low cost5.6 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving11.5 / 1577th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 75th |
| Lower admin cost | 23th |
| Employee saving | 77th |
| Peers that auto-enroll | 17% |
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
- Torgerson Properties, Inc. DBA Tpi Hospitality put in about $581 per active participant, more than the typical peer ($266). 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 (0.51% 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 | $362,678 |
| Participant (employee) contributions | $972,834 |
| Other contributions (incl. rollovers in) | $373,008 |
| Administrative expenses paid from the plan | $79,134 |
| Investment advisory & management fees | $37,148 |
| Other admin expenses | $41,986 |
| Benefits paid out | $2,000,670 |
| Net assets, start / end of year | $14.6M / $16.5M |
| Active participants, start / end of year | 684 / 564 |
| Participants with account balances | 552 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | LB Carlson, LLP |
Largest service providers (Schedule C)
| Alerus Financial, N.A. | $41,986 reported compensation |
| Sweet Financial Partners | $37,148 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003090210NAL0001180833001, received 2025-10-03, EIN 41-0991920, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.