Westcliff Management Group 401(k) Review & Grade
Westcliff University 401(k) Plan
Irvine, CAEducational Services614 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$776Employer $ per active participant
$2,362Employee $ saved per active participant
1.22%Direct admin cost, % of plan assets
$8.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity14.3 / 5029th percentile for employer $ per participant
- Low cost1.1 / 254th percentile for low admin cost vs. same-size plans
- Employee saving6.1 / 1541th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-10 pts1 issue reported on the filing
Total score12 / 100 · Grade F
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 29th |
| Lower admin cost | 4th |
| Employee saving | 41th |
| Peers that auto-enroll | 37% |
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
Late deposits: the filing says some employee contributions were not sent to the plan on time ($388,293 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Westcliff Management Group put in about $776 per active participant, below the typical peer ($1,225). 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 (1.22% 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $476,544 |
| Participant (employee) contributions | $1,450,162 |
| Other contributions (incl. rollovers in) | $26,505 |
| Administrative expenses paid from the plan | $97,367 |
| Contract administrator fees | $91,249 |
| Investment advisory & management fees | $1,588 |
| Benefits paid out | $1,376,840 |
| Net assets, start / end of year | $7.2M / $8.7M |
| Active participants, start / end of year | 602 / 626 |
| Participants with account balances | 272 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Porter & Hunt, LLP |
Largest service providers (Schedule C)
| John Hancock USA | $1,866 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250913134609NAL0005748754001, received 2025-09-13, EIN 46-0658370, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.