Amplifon (USA), Inc. 401(k) Review & Grade
Amplifon (USA), Inc. Incentive Savings Plan
Minneapolis, MNRetail Trade1,253 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,789Employer $ per active participant
$4,885Employee $ saved per active participant
0.50%Direct admin cost, % of plan assets
$51.6MNet plan assets, end of year
$36,236Average balance per account
Score breakdown
- Employer generosity46.3 / 5093th percentile for employer $ per participant
- Low cost5.8 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving12.1 / 1581th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score74 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 93th |
| Lower admin cost | 23th |
| Employee saving | 81th |
| 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
- Amplifon (USA) put in about $2,789 per active participant, more than the typical peer ($743). 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 (0.50% 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 | $3,494,499 |
| Participant (employee) contributions | $6,121,492 |
| Other contributions (incl. rollovers in) | $1,682,673 |
| Administrative expenses paid from the plan | $231,636 |
| Investment advisory & management fees | $170,816 |
| Benefits paid out | $6,032,737 |
| Net assets, start / end of year | $41.5M / $51.6M |
| Active participants, start / end of year | 1,238 / 1,268 |
| Participants with account balances | 1,425 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Clifftonlarsonallen LLP |
Largest service providers (Schedule C)
| Mercer Investments LLC | $158,609 reported compensation |
| Empower Annuity Insurance Company O | $60,820 reported compensation |
| Empower Advisory Group, LLC | $12,207 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250808145933NAL0004503603001, received 2025-08-08, EIN 41-1958972, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.